Published on Apr 19, 2022
The hash function is also commonly known as a cryptographic hash function where the arbitrary data strings are converted into fixed length and format. This particular string of data is known as the hash.
Hash functions also play a crucial role in mining for proof-of-work. As for Bitcoin (BTC), they use the SHA-256 hash function. This is where miners need to produce a hash value, in order to claim their mining rewards. Since hashes are pseudorandom, it becomes almost impossible to predict the outcome of the function.
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