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What Is Hashing in Blockchain — Meaning, Working, Hash Function, Hashrate

Hashing is a process in blockchain technology that is used to secure transactions and ensure the integrity of data. It involves the use of a hash function, which is a mathematical algorithm that takes an input (also known as a “message”) and produces a fixed-size output (also known as a “hash” or “digest”).

In the context of blockchain, hashing is used to create a unique digital fingerprint for each block of data. This fingerprint is created by running the data through a hash function, which produces a fixed-size output.

The output of a hash function is always the same size, regardless of the size of the input. For example, the output of a hash function might be a string of characters that is 64 characters long, known as a “hash digest.”

One of the key properties of hash functions is that they are deterministic, meaning that the same input will always produce the same output. This allows for the integrity of data to be verified, as any changes to the input data will result in a different output hash.

In blockchain, hashing is used to secure transactions by creating a unique digital fingerprint for each block of data. This fingerprint is stored in the block header, along with other information such as the previous block’s hash and a timestamp. The hashing process helps to ensure the integrity of the data stored in the block, as any tampering with the data would result in a different hash.

How Blockchain Hashing Works

Hashing in blockchain works in a similar fashion to its traditional way. The following steps will help us understand how the hashing process works in a blockchain:

  1. A new block of data is created and added to the blockchain.
  2. The data in the block is run through a hash function, which produces a unique hash digest.
  3. The hash digest is stored in the block header along with other information, such as the previous block’s hash and a timestamp.
  4. The block is broadcast to the network and added to the blockchain.
  5. The data in the block cannot be altered without changing the hash digest, as any changes to the data would result in a different hash.
  Credit — GeeksforGeeks


What is Hashrate in Blockchain

Hashrate is a measure of the processing power of a blockchain network, and it is typically expressed in units of hashes per second (h/s). Hashrate is an important metric for the security and decentralization of a blockchain network, as it determines the ability of the network to process and validate transactions.

The higher the hashrate of a network, the more secure it is, as it would require more computing power to attack the network and alter its data. A high hashrate also means that the network is able to process and validate transactions more quickly, which can improve the user experience.

  Credit — Yahoo Finance


Hashrate is often used to compare the relative strength and security of different blockchain networks. For example, Bitcoin has a much higher hashrate than smaller altcoin networks, making it more secure and decentralized.

In the context of mining, hashrate refers to the computing power of a mining rig or device. A mining rig with a high hashrate is able to process more hashes per second and is therefore more likely to find new blocks and earn rewards.

In all, hashrate is a measure of the processing power of a blockchain network, and it is expressed in units of hashes per second (h/s). It is an important metric for the security and decentralization of a network, and it is often used to compare the relative strength and security of different blockchain networks. In the context of mining, hashrate refers to the computing power of a mining rig or device.

SHA-256 (Secure Hash Algorithm 256-bit)

SHA-256 (Secure Hash Algorithm 256-bit) is a cryptographic hash function that is often used in the blockchain industry. It is a widely used and trusted hash function that was developed by the National Security Agency (NSA) in the United States.

In the context of blockchain, SHA-256 is used to secure transactions by creating a unique digital fingerprint for each block of data. This fingerprint is created by running the data through the SHA-256 hash function, which produces a fixed-size output (also known as a “hash” or “digest”).

The output of the SHA-256 hash function is a string of characters that is 64 characters long, known as a “hash digest.” The hash digest is unique to the input data and is used to verify the integrity of the data. Any changes to the input data will result in a different hash digest, making it easy to detect tampering or fraud.

SHA-256 is a widely used and trusted hash function that is used in many different applications, including the creation of digital signatures and the generation of secure passwords. In the blockchain industry, it is often used to secure transactions and ensure the integrity of data on the network.

In summary, SHA-256 (Secure Hash Algorithm 256-bit) is a cryptographic hash function that is often used in the blockchain industry to secure transactions and ensure the integrity of data. It is a widely used and trusted hash function that produces a unique digital fingerprint for each block of data, which is used to verify the integrity of the data.

Conclusion

In summary, hashing is a process in blockchain technology that is used to secure transactions and ensure the integrity of data. It involves the use of a hash function, which produces a fixed-size output (a “hash” or “digest”) that is unique to the input data.

The output of a hash function is used to create a digital fingerprint for each block of data, which is stored in the block header along with other information. This helps to ensure the integrity of the data stored in the block.

https://medium.com/@learnwithwhiteboard_digest/what-is-hashing-in-blockchain-7514f0477d49

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