A Hash function is a class of cryptographic operations that serves as one of the foundational pillars of blockchain technology. The role of hash functions in blockchain and crypto is the creation of unique addresses and participation in the mining/consensus process.
Hash Functions possess certain properties that guarantee their security, namely:
– Deterministic
– Pre-image Resistant
– Quick Computation
– Avalanche Effect
– Collision Resistant
Popular hash functions:
– SHA-256 – Keccak-256 – MD-5 (broken)
– RIPEMD-160 – CryptoNite – SHA-1 (broken)