Understand Ethereum bag features: deep diving bitcoin
Ethereum, the second largest cryptocurrency according to market capitalization, has long been fascinated by basic technology. One of the main aspects of Ethereum is the use of two functions of the bag to create unique addresses to its users. But what does this bag do so that the ecosystem is very important? In this article, we will deepen the reason why Bitcoin uses two bag features and we will investigate why other cryptocurrencies could choose a different approach.
What are the functions of the bag?
The functions of the bag are mathematical algorithms that take the input data (in this case the public key or the mnemonic phrase) and create a frame with fixed dimensions known as a digital fingerprint. This digital fingerprint is exceptional for input data and cannot be replaced or modified in any way without affecting the initial value.
Two bag features: Sha-256 and RIPEMD-160
Bitcoin uses two bag features:
- SHA-256 (assured Algorithm of the bag bag) : Safe cryptographic bag function widely used in David Chaum. SHA-256 is considered the safest feature of an existing bag because it is resistant to certain types of attacks such as collision attacks and pre-attacks.
- RIPEMD-160 (MD-160 ripe) : Algorithm version that creates random numbers created by Rick Barger and Rainer King. RIPEMD-160 is also considered safe and was used in different cryptographic programs.
Why use two bag features?
So why not use only bag functions? The reason consists of the unique requirements of Ethereum Blockchain. Bitcoin uses a consensus on a work algorithm to protect its network that requires a new operation unit at regular intervals (about 10 minutes). To achieve this, Bitcoin miners must solve complex mathematical problems using their processing power to confirm and record operations.
In contrast, the Ethereum decentralized network is based on intellectual contracts, which are independent contracts with specific rules written in Blockchain. These contracts allow you to create autonomous systems that can interact with each other without human intervention.
In order to achieve this, Ethereum requires a more reliable solution of any bag features. Two bag features offer two possible ways to check the operations and ensure their integrity:
* Job proof (POW)
: This is the main mechanism for securing the Bitcoin network. By solving complex mathematical problems, the mining are creating new operations blocks that are checked using the SHA-256.
(POS) Proof *: Applying this method, checks use a different set of rules to select and check operations. Instead of the calculation power, POS is based on the remaining network participation in the network as a guarantee.
Why don’t you only use a bag function?
If Ethereum had chosen to stay with one bag function (such as Sha-256), you may not have achieved their decentralized and autonomous goals. Here are some reasons why:
* Security : Bitcoin security would be damaged by one bag function if the algorithm was damaged or infringed by attacks.
* Ground Changing : Two bag features offer a stronger solution to the control of high operations, as it provides greater flexibility for scaling and tolerance errors.
* Autonomy : Using two bag features, Ethereum can create several autonomous systems that interact with each other without human intervention. This allows you to create decentralized programs (DAPP) and autonomous contracts.
Conclusion
The use of two bag features Ethereum is the main aspect of its architecture, allowing for safe, scaling and strong autonomy on the decentralized network.