1. Describe hash functions with your own words
- An inputs one way transition to a string of data - resulting in a unique output which acts as a Digital Fingerprint for the initial input.
- Any minor change on the hash input and it will be a completely different output. Yet every exact same input will always have the same output.- this acts as form of system integrity.
2. How are hash functions used in cryptocurrencies like bitcoin? (Try to research this on your own, we will cover this later in the course but challenge yourself and see if you can find information on this already now).
- Block Information is hashed and the hash(outputs) are stored in every individual block - resulting in linking them together.
- The hash of the original block is then stored in every ongoing block receiving the information,
3. What does it mean when we say that hash functions need to be collision resistant? (We didnāt use the term ācollision resistantā in the lecture, but you will easily find this on Google, we add this question intentionally to make you research information on your own, thatās how you learn best).
- When two completely different inputs are enabled to create the same output.
- Any Hash functions with more inputs than outputs are prone to collisions.
- Weak Hash Functions are more vulnerable to brute-force attacks if the hash function is not collision resistant.