Define ‘Cryptographic Hash Function’ and Its Key Properties.
A cryptographic hash function is a mathematical algorithm that takes an input of any size (data, text, etc.) and produces a fixed-size, unique string of characters called a hash or digest. Key properties include: it must be deterministic (same input always yields the same output); it must be collision-resistant (it is computationally infeasible to find two different inputs that produce the same output); and it must be a one-way function (it is infeasible to reverse the process and derive the input from the output).
Glossar
Mathematical Algorithm
Computation ⎊ This refers to the defined, step-by-step procedure used to solve a specific problem, such as calculating the fair value of an option or generating a cryptographic hash.
Cryptographic Hash Function
Computation ⎊ The core function of a cryptographic hash function demands significant computational effort, particularly within Proof-of-Work systems.
Computationally Infeasible
Threshold ⎊ Computationally Infeasible describes the state where the resources required, typically time or energy, to reverse a cryptographic operation or brute-force a private key exceed any practical or economically viable limits given current technological capabilities.