Hashpower for CryptoNight Users
It is important to know how blockchain Hashing works. In order to do that, however, we need to first understand one of the core principles that go into blockchain creation. Blockchain technology is one of the most innovative and era-defining discoveries of the past century. Seeing the influence it has had over the last few years and the impact that it will have in the future, it surely isn’t an exaggeration to say that. In order to understand how various cryptocurrencies like Ethereum and Bitcoin function. So what is hashing? In simple terms, hashing means taking an input string of any length and giving out an output of a fixed length. In the context of cryptocurrencies like bitcoin, the transactions are taken as input and run through a hashing algorithm (bitcoin uses SHA-256) which gives an output of a fixed length. Let’s see how the hashing process works. We are going put in certain inputs. For this exercise, we are going to use the SHA-256 (Secure Hashing Algorithm 256).As you can see, in the case of SHA-256, no matter how big or small your input is, the output will always have a fixed 256-bits length. This becomes critical when you are dealing with a huge amount of data and transactions. So basically, instead of remembering the input data which could be huge, you can just remember the hash and keep track. Before we go any further we need to first see the various properties of hashing functions and how they get implemented in the blockchain.