An Analysis and Breakdown of SHA Hashing in Bitcoin Cyryptocurrency Project Proposal - Spring 2015.

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Presentation transcript:

An Analysis and Breakdown of SHA Hashing in Bitcoin Cyryptocurrency Project Proposal - Spring 2015

SHA Use in Bitcoin ● SHA256 used heavily as bitcoin’s underlying cryptographic hashing function ● Two examples (of many) are its use in the Merkle tree hash, as well as the proof of work calculation

Bitcoin and Beyond Areas of use: ● bitcoin ● pointcoin ● other CS classwork (CS3240) ● encrypting sensitive forms (taxes, etc.) ● We have been taught to be more critical of foreign methods/software

An Exploratory Analysis of SHA encryption 1)How the algorithm (SHA256) actually works 2)Comparison of the different version’s algorithms 3)Historical review of attacks on SHA algorithm 4)Energy analysis for hashing power 5)A forecast for the future (SHA -3, tokenization for data transfer, the potential of mining without hashing, etc.)