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The Security of Bitcoin: A Look at its Cryptography 🔒 Bitcoin's security is based on advanced cryptography, which ensures the integrity and confidentiality of transactions. Here's a look at the cryptographic techniques used in Bitcoin: Hash Functions 🔑 - *SHA-256*: Bitcoin uses the SHA-256 hash function to create a digital fingerprint of transactions. - *Hash Rate*: The hash rate is the number of calculations per second that miners can perform. Public-Key Cryptography 🔒 - *Elliptic Curve Cryptography*: Bitcoin uses elliptic curve cryptography to create public and private key pairs. - *Key Pair*: A public key is used to receive Bitcoins, while a private key is used to spend or transfer them. Digital Signatures 📝 - *ECDSA*: Bitcoin uses the Elliptic Curve Digital Signature Algorithm (ECDSA) to create digital signatures. - *Signature*: A digital signature confirms the ownership and authenticity of a transaction. Cryptographic Hash Functions 🔒 - *Collision Resistance*: Bitcoin's hash functions are designed to be collision-resistant, making it difficult to find two different inputs with the same output. - *Preimage Resistance*: Bitcoin's hash functions are also designed to be preimage-resistant, making it difficult to find an input that produces a specific output. Conclusion 🔒 Bitcoin's cryptography is based on advanced mathematical algorithms that ensure the security and integrity of transactions. The use of hash functions, public-key cryptography, and digital signatures provides a robust security framework for the Bitcoin network.$INVITE

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