SHA-256

The SHA-256 algorithm represents Secure Hash Calculation 256-digit. Other digits are also available in the SHA algorithm but are not as compatible as SHA-256. This mining algorithm applies in many ways, such as verifying digital signatures, SSL handshake, and Hashing passwords for encryption.

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The best thing about the SHA-256 is its high-level encryption, possibly due to several factors such as its irreversibility, bits length and hash digest. It is a great performer in the blockchain industry and encrypts all the data with efficient mining results. SHA-256 is capable of mining coins like Bitcoin, Bitcoin Cash, Litecoin cash, Namecoin, PRIZM, etc.

What Is Bitcoin (BTC)?

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.

Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”

Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.