Blockchain for Business

2 Cryptographic tools for blockchain

DOI: 10.4324/9781003321187-3

Learning goals

• 2.A The reader can explain how digital messages can be encoded into bit sequences.
• 2.B The reader can represent numbers using different number systems (bases).
• 2.C The reader can list and discuss the properties of cryptographic hashing functions.
• 2.D The reader can explain the mechanisms of public key encryption and digital signatures.
• 2.E The reader can discuss the applications of cryptographic hashing functions and digital signatures.

2.1 Computer-readable representation of digital messages

Computers simply can be thought of as big and extremely powerful calculators. In fact, they can only process numbers. Even the most complex operations executed by a ...