Reading assignment: Hashing

Number 2 could be flushed out a little bit more. Try answering the question as you are watching the video. It might help you to remeber and understand more.

  1. What is the hashing algorithm called used in Bitcoin?
    Bitcoin uses a Secure Hash Algorithm called SHA-256.

  2. Why is this hashing algorithm really hard (almost impossible) to brute-force?
    Due to the enormous amount of possible hash combinations, it would take an impractical amount of time and computational power for a single computer to try all possible combinations.

  1. Bitcoin uses the SHA 256 algorithm.

  2. Every block is assigned a specific hashrate to ensure that a maximum number of bitcoin mined is not exceeded.