As we well know bitcoins are quite an expensive commodity today and some may be interested in this function, the Checksum is a simple cryptographic function that allows us to verify and know exactly if a Bitcoin address is written correctly. A simple utility that allows us to identify typing or other errors. All in order to avoid losing our funds by sending our bitcoins to an address that is badly formed.
Undoubtedly a very useful function to guarantee the integrity and protection of information when it is stored or shared with other users on the network. Its functionality is based on a simple verification algorithm that allows the creation of character strings that can then be used to verify, before or after a data transmission, the validity of the transmitted data.
This string is generally located at the bottom of the verified file or string. And in this way, they serve as a signature to help verify the integrity of the information. Very useful, for example, when we want to include an automatic verification that allows us to know if what we write or the data that we have received really represents the desired information.
It is usually located at the bottom of the verified file or string. And in this way, they serve as a signature to help verify the integrity of the information, but this is not their only function. This can also be very useful, for example, when we want to include an automatic verification that allows us to know if what we write or the data that we have received really represents the desired information.
The use cases of the CheckSum functions are widely varied. As we have already mentioned, they are very fundamental parts in electronic devices and computing in general and that is why we will see some examples of how it is used.
▸Bank accounts
A very common use of checksum functions is to verify that the information in a bank account is correct. Every time you see a bank account number, you don’t just see a group of numbers that identify you within that bank. But there is also a piece of information that allows them to verify that those numbers that you have provided are the correct ones.
▸Cryptocurrency addresses
As we have already seen, with this function you can quickly and easily check that the address you are using is the correct one. Or if on the contrary, it is altered in some way. Avoiding unconsciously sending your cryptocurrencies to a false, incorrect or non-existent address.
See also:
LUNA (Terra) – A cryptocurrency from another planet
What is IDS and how this system helps us
