Can you explain the role of SHA-256 in verifying transactions on the blockchain?

3 answers

• Nov 24, 2021 · 3 years ago
  SHA-256, short for Secure Hash Algorithm 256-bit, is a cryptographic hash function used in the process of verifying transactions on the blockchain. It takes an input (transaction data) and produces a fixed-size output (hash value) that uniquely represents the input. This hash value is then stored in the blockchain, providing a secure and tamper-proof record of the transaction. By comparing the hash value of a transaction with the hash value stored in the blockchain, participants can ensure the integrity and authenticity of the transaction.
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• Nov 24, 2021 · 3 years ago
  SHA-256 is like the secret sauce of the blockchain. It takes a transaction, mixes it up, and spits out a unique hash value. This hash value is then used to verify the transaction's integrity. It's like a digital fingerprint that ensures the transaction hasn't been tampered with. So, whenever you make a transaction on the blockchain, SHA-256 is there to keep things secure and trustworthy.
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• Nov 24, 2021 · 3 years ago
  SHA-256 plays a crucial role in verifying transactions on the blockchain. It ensures that the transaction data remains unchanged and secure. When a transaction is created, SHA-256 takes the transaction data and produces a unique hash value. This hash value is then stored in the blockchain. When the transaction needs to be verified, the same SHA-256 algorithm is applied to the transaction data again. If the hash value matches the one stored in the blockchain, it means the transaction is valid and hasn't been tampered with. This provides a high level of security and trust in the blockchain system.
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