CryptoCurrency: Who asks for the work?
Posted: February 27th, 2022, 12:14 pm
I have read about Cryptocurrency, blockchain, mining etc. from dozens of websites enough to make my head spin. I now have a fair idea of what it is, how it functions etc. But website after website only repeats the same information and jargon without explaining the A-Z of it from where the demand starts.
So I understand all these huge datacenters now exist in random places around the world to apparently solve hugely complex computational problems, and when exploring more I understand all of them are trying to crack the SHA-256 hash function. This utterly baffles me.
As much as I understand this is what's going on, what I don't understand is
1. Where is the demand for the work coming from?
2. Who is requesting this type of work in such large numbers? Is it Scientists? Spies? Organisations?
3. Why are they requesting this work for these people?
4. What will cracking these things solve? Isn't cracking that hash an illegal thing? I mean isn't that got something to do with passwords?
5. If it is not just for cracking that hash, what else is it used for?
It is disappointing that not a single website I read, including Wikipedia explains who is asking for such work to be done, why is there such a great demand for such activity (cracking hashes!)
Would be grateful if I can get any replies please!
TS74
So I understand all these huge datacenters now exist in random places around the world to apparently solve hugely complex computational problems, and when exploring more I understand all of them are trying to crack the SHA-256 hash function. This utterly baffles me.
As much as I understand this is what's going on, what I don't understand is
1. Where is the demand for the work coming from?
2. Who is requesting this type of work in such large numbers? Is it Scientists? Spies? Organisations?
3. Why are they requesting this work for these people?
4. What will cracking these things solve? Isn't cracking that hash an illegal thing? I mean isn't that got something to do with passwords?
5. If it is not just for cracking that hash, what else is it used for?
It is disappointing that not a single website I read, including Wikipedia explains who is asking for such work to be done, why is there such a great demand for such activity (cracking hashes!)
Would be grateful if I can get any replies please!
TS74