In this article, you will learn what is hashing. Fundamental concepts of cryptocurrencies means a lot if you are diving into the subject of crypto space. Blockchain technology is one of the most innovative and era-defining discoveries of the past century. Seeing the influence it has had over the last few years and the impact that it will have in the future, it surely isn't an exaggeration to say that. In order to understand how various cryptocurrencies like Ethereum and Bitcoin function, it's crucial to first understand the concept of what is hashing.
What is Hashing?
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.
In the case of SHA-256, no matter how big or small your input is, the output will always have a fixed 256-bits length. This becomes critical when you are dealing with a huge amount of data and transactions. So basically, instead Of remembering the input data which could be huge, you can just remember the hash and keep track. Before we go any further we need to first see the various properties of hashing functions and how they get implemented in the blockchain.
This algorithm is a one-way cryptographic function as the original data cannot be retrieved via decryption.
The implementation of a cryptographic hash function is beneficial to prevent fraudulent transactions, double spending in blockchain, and store passwords. In short, this is a unique number that is not duplicable according to the algorithm. Therefore, it is frequently used to verify a file's authenticity. To put it in context, when there's a change in a hashed file, its hash will automatically change as well. And each subsequent hash is tied to the previous hash, thus ensuring the consistency of all blocks.
What is a hash function?
A hash function is a mathematical operation that converts input data of arbitrary length into an output of fixed length that is executed using a certain algorithm.
An algorithm is just a step-by-step set of instructions for performing calculations that are done by a software program.
It doesn't matter if the input is a single letter, a word, a full sentence, a page from a book, or an entire book, That's the arbitrary part.
Each input will produce a unique output expressed as an alphanumeric string of fixed length.
Alphanumeric just means that something consists of both letters and numbers.
A useful hash function conceals any clues about what the input may have looked like. For example, it needs to be impossible to determine whether the input was long or short or contained numbers or letters. Also, changing just one character in the input should result in a radically different output.
For our purposes, the only hash function you need to know about right now is the Secure Hash Algorithm (SHA). More specifically, the SHA-2 family since it contains a special member in the family named SHA-256.
What is hash rate?
Hash rate basically means how fast these hashing operations are taking place while mining. A high hash rate means more people and software machines are taking part in the mining process and as a result, the system is running smoothly. If the hash rate is too fast the difficulty level is increased. If the hash rate becomes too slow then the difficulty level is decreased
The measuring unit is Hash/sec (H/s).
Bottom Line
Hashing has truly been fundamental in the creation of blockchain technology. If you want to understand what the blockchain is all about, you should definitely understand what is hashing.
