Decentralized Exchanges : What It Entails #006

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Hello great minds,

It is a wonderful opportunity to come before you all today to discuss on an issue of great importance in the cryptospace.

I trust you are doing perfectly fine and you are enjoying your activities in the community as we promote steemit across various platforms with a collaborated efforts.

It is another beautiful day and we shall be discussing on decentralized exchanges as expected, following our usual routine.

In our discussion, we stopped at gaining proper understanding on collision resistance.

We learnt that collision resistance is a feature of the cryptographic hash functions that allows two users to posses the same password but different hash value.

This means that the password of Mr A cannot unlock the password of Mr B.

And today, we shall be learning about more advantages of collision resistance.

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ADVANTAGES OF COLLISION RESISTANCE

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There are several benefits of collision resistance in the cryptospace, and there are so many contributions it adds to cryptographic hash functions.

Explained below are some advantages of collision resistance.

• DIGITAL SIGNATURES:

In digital signatures, the authenticity of a message is confirmed when it's hash is signed.

The Importance of collision resistance in this case is that it ensures that malicious cannot create different messages using the same hash value to forge signature.

In a more understanding term, the collision resistance helps to prevent the forging of signatures by ensuring that attackers cannot create a different message using the same hash value.

Getting access to a hash value implies that you can have access to this digital signature of the hash value.

So in a sense, collision resistance play a huge role in ensuring security in a decentralized system.

• CERTIFICATE AUTHORITIES:

Ensuring uniqueness of certificate authorities is another very important way in which collision resistance can be useful in ensuring security in a decentralized system.

In the scenerio of the public key infrastructure abbreviated to mean KPI, the certificate that are issued by certificate authorities often include hash values.

These hash values serve as a representation of the certificate content.

The collision resistance helps to guarantee the uniqueness of this representation.

It helps to ensure that no two participants can have the same certificate content, thus ensuring quality of the certificate value.

With the implementation of collision resistance in this system, it becomes impossible for certificates to be forged, every given certificate will have to go through the right processes.

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CONCLUSION

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The Importance of collision resistance cannot be overemphasized in the functioning of cryptographic hash functions.

With the collision resistance, we can be assured of the uniqueness of contents containing hash value, as no two different content can give the same hash value.