[quote=“ivan, post:1, topic:8430”]
- Describe hash functions with your own words
-Hash functions are unique inputs that will produce unique outputs.It is a one way hash function not two ways otherwise it will compromise the information being inputted.
- How are hash functions used in cryptocurrencies like bitcoin?
- Hash functions are very special for blockchains in order to have immutability.The SHA-256 hash function is relevant for bitcoin due to its secure properties such as 1)Deterministic
2)Quick Computation
3)Pre-Image resistant
4)Small changes in input changes the hash
5)Collision resistant
6)Puzzle friendly
In mining a block, it has to include the hash of previous block which contains 0s and random alpha-numerical to make up the hash and it also shows the difficulty of mining that particular block before it gets added to the next one. The block hashes link the block chain together forming a true timestamp server.
- What does it mean when we say that hash functions need to be collision resistant?
-It means that its not easily collided in terms of having the same hash through different inputs because each input will have its own unique hash.