A hashing algorithm is a mathematical function that scrambles information and renders it unintelligible. Algorithms are one-way programs, so no one else can unscramble and decode the text. This is precisely the point. One of the most important aspects of contemporary encryption and blockchain algorithms is the hash, sometimes known as the hash function.
The process of hashing converts a string of any kind of information into a string of characters that is entirely unique. Miners and/or stakers have the responsibility of decrypting these records as part of their work. PoS, DPoS, SHA256 (which is used in Bitcoin’s blockchain), and Crypto Night are just a few of the many hashing algorithms that exist (used in the Monero blockchain).