Someone asked: What exactly is a hash, and why can’t blockchain do without it?
My answer: Bitcoin uses SHA-256 to calculate block hashes and transaction IDs, and it calculates them twice (double SHA-256). Proof of work works because hash results cannot be predicted in advance; the only way to find a hash that meets the difficulty requirement is to keep trying.
$BTC 80288.01 (+4.36%)
If you have any beginners among your friends, you can share this with them.
My answer: Bitcoin uses SHA-256 to calculate block hashes and transaction IDs, and it calculates them twice (double SHA-256). Proof of work works because hash results cannot be predicted in advance; the only way to find a hash that meets the difficulty requirement is to keep trying.
$BTC 80288.01 (+4.36%)
If you have any beginners among your friends, you can share this with them.
