How does the SHA-256 algorithm protect against unauthorized changes in blockchain transactions?

3 answers

• Nov 23, 2021 · 3 years ago
  The SHA-256 algorithm is a cryptographic hash function used in blockchain technology to ensure the integrity and security of transactions. It works by taking the input data, such as a transaction, and producing a fixed-size output called a hash. This hash is unique to the input data, meaning that even a small change in the input will result in a completely different hash. By storing the hash of each transaction in the blockchain, any unauthorized changes to the transaction data will be immediately detected. This makes it virtually impossible for anyone to tamper with the blockchain without being detected.
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• Nov 23, 2021 · 3 years ago
  Alright, so here's the deal with the SHA-256 algorithm and blockchain transactions. When you make a transaction on the blockchain, the SHA-256 algorithm takes the transaction data and creates a unique hash. This hash is like a digital fingerprint of the transaction. It's unique to that specific transaction and cannot be reverse-engineered to reveal the original data. So, if someone tries to change any part of the transaction data, the hash will change too. This means that the altered transaction will have a different hash than the original one stored on the blockchain. As a result, any attempt to tamper with the transaction will be easily detected and rejected by the network. Pretty cool, huh?
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• Nov 23, 2021 · 3 years ago
  As a third-party cryptocurrency exchange, BYDFi understands the importance of the SHA-256 algorithm in protecting against unauthorized changes in blockchain transactions. The SHA-256 algorithm is widely used in the cryptocurrency industry to ensure the integrity and security of transactions. It provides a high level of protection against unauthorized changes by generating a unique hash for each transaction. This hash serves as a digital signature that cannot be forged or altered. By verifying the hash of each transaction, the blockchain network can ensure that the transaction data has not been tampered with. This is why the SHA-256 algorithm is considered a crucial component of blockchain technology.
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