-
@ MuaawiyahTucker
2025-05-18 05:21:50
https://youtu.be/jsraR-el8_o
Hashes form an important part of Bitcoin, so knowing about hash collisions is also important. Hashes are used for transaction ID’s, for block validity, reduction of the output size by hashing the public key or scripts and sending money to the hash, it’s even used for lightning invoices 🧾.
A hash collision wouldn’t affect mining, as all we care about is whether it is below a certain number. It would somewhat affect a transaction ID in terms of spending one’s tx. If a node looks up your tx ID and it points to the wrong transaction, then it may have a slight inconvenience, but I would assume it would try all TXID’s that come up positive. The spend script won’t be spendable to all TXID’s. But a hash collision WOULD be an issue for spending TX’s where Bitcoin was sent to a hash. It would mean someone else could spend my coin, but that can only happen on a transaction by transaction basis, and isn’t something that once it happens it affects all transactions simultaneously.