Cryptocurrency Q&A
How blockchain works for beginners?
How blockchain works for beginners?
KpopHarmonySoul
Thu Oct 10 2024
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6 answers
1410
I'm a beginner and want to understand how blockchain works. Could you explain it in simple terms, including its basic principles and how it's used in real-world applications?
6 answers
Valentina
Sat Oct 12 2024
When a transaction occurs on the blockchain, several critical pieces of information are transmitted through the SHA256 algorithm. These include the unique address of the sender, commonly referred to as the public key, which acts as a digital identity.
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DondaejiDelightfulCharmingSmile
Sat Oct 12 2024
Similarly, the receiver's address is also encrypted and transmitted using SHA256, ensuring that only the intended recipient can access the funds. This adds an extra layer of security to the transaction process.
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Silvia
Sat Oct 12 2024
Alongside the sender and receiver addresses, the transaction details themselves are also subjected to the SHA256 algorithm. This ensures that every aspect of the transaction is securely recorded and verified, fostering trust among participants.
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SamuraiCourageous
Sat Oct 12 2024
Blockchain technology employs advanced methods to safeguard data, utilizing hashing and encryption as its CORE security mechanisms. This ensures that information stored on the blockchain is secure and tamper-proof.
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Chloe_carter_model
Sat Oct 12 2024
At the heart of this security lies the SHA256 algorithm, which plays a pivotal role in protecting the integrity of the blockchain. SHA256 is a cryptographic hash function renowned for its strength and resilience against attacks.
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