Hashing is the process of converting data into a fixed-length string of characters using a cryptographic hash function. In crypto, hashing is used to secure transactions, link blocks together, and maintain data integrity on a blockchain. The output, known as a hash, changes completely even if the input data is slightly altered. Hashing is one-way, meaning the original data cannot be easily reconstructed from the hash. It plays a key role in mining, digital signatures, and address generation.
Coinbase has formed an independent advisory board of cryptography and quantum experts to evaluate long-term risks that quantum computing could pose to Bitcoin and blockchain security.
Hundreds of crypto wallets across EVM-compatible chains have been drained in an ongoing attack, with investigators yet to identify the root cause or point of compromise.