An algorithm is a defined sequence of instructions that tells a computer how to complete a task. In blockchain systems, these instructions secure the network, confirm transactions, and create new blocks.
Bitcoin relies on the SHA-256 hashing algorithm. When a user submits a transfer, nodes apply SHA-256 to verify authenticity; once confirmed, the transaction enters the next block. Miners compete to solve a hash target generated with SHA-256, and the first to succeed appends the block and receives newly minted bitcoin.
Algorithms also drive recommendation engines, targeted advertising, and automated trading. In algorithmic trading, a mean-reversion model, for example, compares an asset’s short-term price with its historical average; the program opens or closes positions when the gap exceeds preset limits.
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