When you upload your identity documents to the ShareRing Vault, your information is hashed onto the ShareLedger blockchain to keep it secure. Hashing protects the integrity of your private information. But what does that mean?
A good analogy is a fingerprint. Your fingerprint is unique and can be traced to you by matching it with your finger. On its own, nobody could know whose fingerprint it is.
In the same way, hashing can be used to work out who owns a piece of data without revealing whose data it is. The process of hashing gives blockchain its impeccable security and is an essential element of blockchain management.
What is a hash function?
A hash is a mathematical function that takes a readable input such as text (in this case, the data on your identity documents) and converts it into an unreadable string of bytes with a fixed length (typically 64 digits). The output created by a hash function is called the ‘hash value,’ ‘hash code,’ or simply ‘hash.’ Because the hash value is always the same length, it’s extremely difficult for hackers to work out how long or short the input data was – adding another layer of security.
A hash function has many important properties. It must be:
Together, these three characteristics are the fundamental elements that ensure a hash function is doing its job correctly.
Unlike encrypted data, it is near-impossible to convert hashed data back into readable content. However, every time you hash a piece of data, its output is identical. This makes it easy to confirm the original data has not been tampered with or altered in any way – minimizing the risk of identity fraud.
What else can a hash function do?
ShareRing Vault is hashed onto ShareLedger
In ShareRing Vault, your data is not stored in a centralized database that can be accessed by third parties. There’s no information on the cloud for hackers to access, either. When you put your identity documents in your ShareRing Vault, you can relax knowing it’s hashed and unreadable by anyone but you. We put control of your data back in your hands.
Minimize the risk of identity fraud to protect your digital footprint and reputation. Find out more about ShareRing Vault here.