Author: Peter Todd 2017-02-25 01:01:22
Published on: 2017-02-25T01:01:22+00:00
In a recent discussion on the Bitcoin-dev mailing list, Steve Davis raised concerns over whether RIPEMD-160, which is the foundation of Bitcoin addresses, is also insecure like SHA1. In response, Peter Todd clarified that SHA1 is considered insecure due to the algorithm itself and not because 160 bits isn't enough. As for RIPEMD160, there aren't any known weaknesses; however, it has not been as closely studied as other hash algorithms. Bitcoin uses RIPEMD160(SHA256(msg)), which may make creating collisions harder if an attack is found than if it used RIPEMD160 alone. This discussion highlights the importance of maintaining the security of cryptographic algorithms in cryptocurrencies.
Updated on: 2023-06-11T21:47:51.326734+00:00