Describe hash functions with your own words
one way functions which transform input text to unique output
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 are used to encrypt the transaction data so its secure and only the intended recipient can decrypt it.
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).Collision resistant means it is statistically unlike to generate the same hash for a different input.