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2.2 What is a hash?

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You have learned how blockchains allow any two parties to send each other cryptocurrency using public and private keys. Sending the cryptocurrency between addresses created transaction receipts. These receipts are written in an ever-expanding record. The record is known as the blockchain ledger.

In this section, you will discover how the network secures the records of transfer of cryptocurrency from one address to another using what is known as hashes. You should note that this process was pioneered for the transfer of cryptocurrency but can be applied to many other applications where authentication is required. These digital fingerprints of data make sure that the record of ownership is not falsified. Hashes, like most of the technology that makes blockchains, came from a much earlier time. Hans Peter Luhn, an engineer at IBM, first conceived of hashes in the 1950’s as a way to organize both numbers and text.

Introduction to Blockchain Technology

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