What Role Does a Cryptographic Hash Play in the Concept of a “Smart Contract”?
In smart contracts, a cryptographic hash is essential for linking the contract's code and data to a specific block on the blockchain. The hash acts as a unique identifier and a commitment to the contract's state and logic.
This ensures that the contract's rules are immutable and transparent once deployed. Furthermore, hashes are often used to commit to secret data that will be revealed later, a technique known as a commit-reveal scheme.