A mathematical algorithm that converts input data of any size (such as a word, password, phrase, array, or file) into a fixed-length output string. In the crypto space, hash functions are used:
- to form and verify blocks in a blockchain;
- to link new blocks to previous ones;
- in mining, to find a valid value when creating a new block;
- to generate transaction identifiers.
- to form and verify blocks in a blockchain;
- to link new blocks to previous ones;
- in mining, to find a valid value when creating a new block;
- to generate transaction identifiers.