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Cryptocurrency and Bitcoin

Building on the previous module defining cryptographic hash functions, this module review its uses and applications. We will first describe hash chain, which chains multiple hash functions in sequence, and apply hash chain for generating one-time passwords using a scheme called S/Key. Then, we will use hash functions to construct a binary tree and describe hash tree, also known as Merkle tree. Lastly, we will review the applications of hash function and hash tree for decentralized digital currency in the forms of cryptocurrency or bitcoins.

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