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What is hash in blockchain?

Explained: What Is Hashing in Blockchain? Hashing or hash is a common term when discussing blockchain technology. Hashing refers to the transformation and generation of input data of any length into a string of a fixed size, which is performed by a specific algorithm.

What is blockchain and how does it work?

Pretty cool. Also, every transaction that is executed on the blockchain is digitally signed by the sender using their private key. This signature ensures that only the owner of the account can move money out of the account. To bring it all together, blockchain could not exist without hashing and digital signatures.

Could blockchain exist without hashing and digital signatures?

To bring it all together, blockchain could not exist without hashing and digital signatures. Hashing provides a way for everyone on the blockchain to agree on the current world state, while digital signatures provide a way to ensure that all transactions are only made by the rightful owners.

How does hashing work in cryptocurrencies?

In simple terms, hashing means taking an input string of any length and giving out an output of a fixed length. In the context of cryptocurrencies like bitcoin, the transactions are taken as input and run through a hashing algorithm ( bitcoin uses SHA-256) which gives an output of a fixed length. Let’s see how the hashing process works.

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