What exactly is a hash, and why does blockchain depend on hashes?
A hash function turns data of any length into an output of a fixed length. This output is called a hash value, or digest.
Bitcoin uses SHA-256 to calculate block hashes and transaction IDs, and applies it twice (double SHA-256).
When managing your positions, the most important thing to remember is this: to check a transfer, search for its transaction hash in a block explorer. That’s much more reliable than looking through screenshots posted by others.
$BTC 82588.01 (-1.68%)
These are just my views and do not constitute investment advice.
A hash function turns data of any length into an output of a fixed length. This output is called a hash value, or digest.
Bitcoin uses SHA-256 to calculate block hashes and transaction IDs, and applies it twice (double SHA-256).
When managing your positions, the most important thing to remember is this: to check a transfer, search for its transaction hash in a block explorer. That’s much more reliable than looking through screenshots posted by others.
$BTC 82588.01 (-1.68%)
These are just my views and do not constitute investment advice.