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Describe hash functions with your own words
A hash function takes a set of input data and creates an output of fixed bit length which corresponds uniquely to the input data. -
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).
Hash functions in Bitcoin crunch a few sets of data (including some randomization) to create the next block in line. (an oversimplification) -
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).
- A collision occurs when two different sets of data create the same hash. To realize this event one would have to make an infeasible number of attempts.