Decentralized Exchanges : What It Entails #005

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Hello crypto friends,

I humbly come before this great community with a happy heart 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 jointly promote steemit across various social media platform.

Today, we shall be continuing our discussions on decentralized exchanges and from our last post, we were learning about the properties of cryptographic hash functions.

One of the property of cryptographic hash function we discussed about was the second preimage resistance.

Here we learnt how it helps in ensuring that different input doesn't produce the same output.

Today, we shall be learning a different property of cryptographic hash functions.

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COLLISION RESISTANCE

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Collision is another very important properties of a cryptographic hash function.

It plays a very important role in guaranteeing the security of different cryptographic hash function applications such as message authentication code, digital signatures and password storage.

Collision resistance can be explained to be a property that makes sure it is very difficult or nearly impossible for two distinct inputs to produce the same hash value.

In other words, it is a property that makes it extremely difficult for two different messages to have same hash output.

On a formal basis, the hash function H can be considered to be collision resistant only if, for the two different inputs M and N, it is computationally infeasible for a pair to be found (M , N), in such a way that H(M) = H(N).

In a more understandable term, it should be impossible to find two distinct inputs producing same hash value.

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IMPORTANCE OF COLLISION RESISTANCE

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There are very important roles that collision resistance play in aiding cryptographic hash functions, and some of them will be explained below.

• DATA INTEGRITY:

Hash function are used in the verification of the integrity of data.

When a file is been sent, it's hash value can be computed by you and shared to the recipient.

Then if any portion of the file is being modified by anyone a little bit during file transmission, the hash value will change, indicating that the file has been tampered with.

• PASSWORD STORAGE:

Strong Password are often insecure in their plain form, instead the system stores their hash value to make them secure.

Here, the collision resistance helps to ensure a different hash value for two users with the same password.

This implies that two or more users can have the same password but with the help of collision resistance, their hash value will be different.

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CONCLUSION

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We have learnt of another property of the cryptographic hash functions.

We have learnt about the collision resistance and the Important role it plays in ensuring the security of a decentralized exchange.

In our next discussion, we shall learn more about cryptographic hash functions.