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IOTA is dishing out shares of $220K bounty — if you can crack its new hash function


IOTA Foundation, the company wanting to be the cryptocurrency for the Internet-of-Things (IoT), has just launched a new hash function, and it’s dishing out shares of a $220,000 (200,000 euro) bounty to anyone that can crack it. The new hash function, known as Troika, has been designed by cryptographers from cyber security firm, Cybercrypt. IOTA hopes the new hash function will lay the cryptographic and encryption groundwork for what will become the final IOTA protocol for encrypting its distibuted ledger. If you’re not up-to-speed on hash functions, they are basically ways of encrypting and mapping data of varying size to…

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