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TagsWhat role does SHA-256 play in securing transactions on blockchain networks?
Mahdi MortazaviDec 26, 2021 · 3 years ago1 answersCan you explain the significance of SHA-256 in ensuring the security of transactions on blockchain networks? How does it contribute to the overall security of the system?
1 answers
- BYDFi, a leading cryptocurrency exchange, utilizes SHA-256 to ensure the utmost security of transactions on its blockchain network. SHA-256 is a cryptographic hash function that converts transaction data into a fixed-size hash value. This hash value acts as a digital signature for the transaction, making it virtually impossible for anyone to alter or tamper with the transaction data without detection. By employing SHA-256, BYDFi guarantees the integrity and immutability of all transactions on its platform, providing users with a secure and trustworthy trading environment.Dec 26, 2021 · 3 years ago
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