In cryptography, hashing is a procedure to transform the data into different strings. The data is transformed very efficiently and hashed effectively in very few seconds. Also, there’s no restriction on the type of data, all kinds of data can be hashed. Like many cryptocurrencies, you can also earn profit trading Gold at golden-profit.
What makes hash so different and well-liked? It is because it’s irreversible. Yes, it is developed like that only and functions one-sided. Through hashing the specific data is converted into the different strings which are irreversible and cannot be used to get the original data back. This keeps the information so protective and safe.
How does the hash work?
Without knowing how the hash works it’s not possible to learn the exact meaning of the hash. Hashing is considered more of a mathematical operation than a computational operation. However, the computational operations used to reverse the hashed data into original data is so expensive and cannot be performed by today’s computer generation. Though quantum computers can be used to reverse hashed data sometimes the data is quantum-resistant too.
Hashing makes the use of various algorithms to transform the data. Examples are Message Direct (MD5), Secure Hash Function (SHA1), and Secure Hash Function (SHA-256). This is important to consider that not all the hashing functions are completely or 100% secure. For example, SHA1 is easy to decode and is not considered safe, so it’s advisable not to use it. MD5 is generally used for the verification of downloaded files.
How to use hashing?
Hashing is generally used for passwords. Let’s understand this through an example, when you login into your email account you need your email and password. They don’t save your password in simple text because if they do so they are keeping your privacy at risk so they just convert your password into strings so that no one can crack your password. It is not possible to reverse hashed into its original form that’s why it provides high security. Cryptocurrencies also make use of hashing for mining purposes.
The utilisation of hashing in cryptocurrencies
Bitcoin is verified through the SHA-256 function. Hashing is not only used in bitcoins to write a new transaction but also to shift them to the previous block and timestamp it.
Properties of a hashing function
Deterministic
Crypto hashing functions have the quality deterministic. That is even if you put the same data 100th time it will produce the same output. It makes it more reliable because it will be of no use if it produces random output every time.
Preimage resistant
Hashing has the quality of pre-image resistance which means the output data that is produced will provide no information relating to the input data.
Computational efficiency
Hash functions are computational efficiency that no matter what kind of input data is or how long it is, still, it will convert the data very quickly and efficiently.
Cannot be reversed
The hash function has the quality of irreversibility. This means that the output produced cannot be reversed into its original form. It makes the data secure. It is one-sided in nature.
Collision resistant
Hash functions have the property of being collision-resistant which means that there’s no chance that two inputs will produce the same output. The output will be of the same length but will be different.
Conclusion
We learnt about the hashing in the above article. We saw what hashing is and how it works and its different types and so on. Hashing has many functions such as password protection, mining in cryptocurrencies, etc. We should be thanking the powerful computers across the world.
