SHA-256 Hash function and Bitcoin

No one on Earth knows how to reverse the SHA-256 hash function. Yet it’s really easy to compute one-way. You could make billions of dollars if you solved this mathematics problem. SHA-256 might also be the world’s most popular algorithm – it’s computed quintillions of times per second in the race for mining Bitcoin. It has some amazing properties, is useful for digital signatures, cryptography, authentication, and is a central part of the Bitcoin protocol.

Bitcoin and other “crypto-currencies” rely on one-way hash functions like the SHA-256 algorithm to secure the blockchain where all the transactions are kept.

In this video, I explain some of the big-picture ideas behind this one function. Other cryptocurrencies use similar ideas.

Comments, suggestions, or errors? Let me know in the comments, and I’ll fix them in an upcoming follow-up video (coming late July 2019)

—- Links ——
Wikipedia about SHA-256:
https://en.wikipedia.org/wiki/SHA-2

Current Bitcoin difficulty:
https://www.coinwarz.com/difficulty-charts/bitcoin-difficulty-chart

Big number calculator:
https://defuse.ca/big-number-calculator.htm

You might be interested in

LEAVE YOUR COMMENT

Your email address will not be published. Required fields are marked *

eos
EOS (EOS) 0,554935 € 2,98%
aave
Aave (AAVE) 65,47 € 4,26%
the-graph
The Graph (GRT) 0,083787 € 5,20%
kusama
Kusama (KSM) 18,14 € 2,92%
waves
Waves (WAVES) 1,47 € 4,06%
dash
Dash (DASH) 25,98 € 2,79%
bitcoin
Bitcoin (BTC) 26.033,82 € 1,72%
ethereum
Ethereum (ETH) 1.573,21 € 4,08%
cardano
Cardano (ADA) 0,245204 € 2,61%
tether
Tether (USDT) 0,945640 € 0,14%
xrp
XRP (XRP) 0,484731 € 2,32%
solana
Solana (SOL) 22,11 € 2,22%
polkadot
Polkadot (DOT) 3,90 € 3,44%
usd-coin
USDC (USDC) 0,945101 € 0,09%
dogecoin
Dogecoin (DOGE) 0,058701 € 2,00%
uniswap
Uniswap (UNI) 4,22 € 4,34%
terra-luna
Terra Luna Classic (LUNC) 0,000059 € 4,47%
litecoin
Litecoin (LTC) 62,43 € 3,38%
chainlink
Chainlink (LINK) 7,06 € 7,25%
bitcoin-cash
Bitcoin Cash (BCH) 233,25 € 1,68%
algorand
Algorand (ALGO) 0,095891 € 4,69%
matic-network
Polygon (MATIC) 0,517598 € 4,10%
stellar
Stellar (XLM) 0,105626 € 2,48%
cosmos
Cosmos Hub (ATOM) 6,77 € 5,85%
filecoin
Filecoin (FIL) 3,15 € 3,83%
tron
TRON (TRX) 0,082758 € 3,01%
ethereum-classic
Ethereum Classic (ETC) 15,29 € 3,49%
dai
Dai (DAI) 0,943132 € 0,55%
tezos
Tezos (XTZ) 0,640553 € 4,01%
monero
Monero (XMR) 138,20 € 2,15%