Encryption algorithm is a mathematical function that converts plaintext into ciphertext. It requires a key to decrypt and is used to ensure data security. Common blockchain encryption algorithms include: Hash function: SHA-256 (Bitcoin), RIPEMD-160 (Bitcoin address) Symmetric encryption algorithm: AES (sensitive data), DES (Bitcoin transaction) Asymmetric encryption algorithm: RSA (digital signature), ECC (compact signature) hybrid encryption algorithm: ECIES (encrypted message)
What is an encryption algorithm?
An encryption algorithm is a mathematical function that converts plaintext (readable data) into ciphertext (unreadable data), which requires a specific key to decrypt. Encryption algorithms provide confidentiality and integrity, ensuring data is protected from unauthorized access during transmission or storage.
Common Blockchain Encryption Algorithms
Blockchain technology widely uses a variety of encryption algorithms to ensure transaction security and data integrity. The following are common blockchain encryption algorithms:
Hashing Functions
Symmetric Cryptography
Asymmetric Cryptography
Hybrid Cryptography
These encryption algorithms are critical to protecting blockchain networks from attacks and unauthorized access, ensuring confidentiality, integrity and non-repudiation of transactions.
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