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Hash Functions for Integrity and Efficiency | Todd Price | #LDNBlockchain23
Learn how hash functions ensure integrity and efficiency in the Bitcoin system, including their use in proof of work, address creation, and transaction identifiers.
- Hash functions are deterministic, producing a fixed output for a given input.
- Hash functions are used for integrity, security, and efficiency in the Bitcoin system.
- SHA-256 (160-bit output) and SHA-512 (512-bit output) are examples of hash functions used in Bitcoin.
- Hash functions are used in proof of work, address creation, and transaction identifiers.
- Merkle trees are used to efficiently verify the integrity of large datasets.
- Hash functions are used to create collision-resistant outputs, making it computationally infeasible to find a pre-image.
- The hash function is used to create a one-way trapdoor function, making it difficult to reverse-engineer the input from the output.
- Hash functions are used to create a secure summary value, making it possible to verify the integrity of a large dataset.
- The Merkle proof is used to efficiently verify the data integrity of a large dataset.
- Hash functions are used to create a secure identifier for a transaction.
- The hash of the previous block is used to create the solution to the proof of work challenge.
- Hash functions are used to reduce the size of large datasets, such as 4.3 gigabyte files, down to a fixed-size output.
- The use of hash functions enables efficient data verification and integrity in the Bitcoin system.
- Hash functions are used to create a unique identifier for a transaction, making it possible to verify the integrity of the transaction.
- The hash of the previous transaction is used to create the signing message, which is then verified.