When performing a SPARQL query at the WD Query Service (example: https://w.wiki/ptp), these value nodes are identified by an IRI such as wdv: 742521f02b14bf1a6cbf7d4bc599eb77 (http://www.wikidata.org/value/742521f02b14bf1a6cbf7d4bc599eb77). The local name part of this IRI seems to be a hash of something. However, when I compare the hash values from the snak JSON returned from the API for the same value node (see https://gist.github.com/baskaufs/8c86bc5ceaae19e31fde88a2880cf0e9 for the example), the hash associated with the value node (35976d7cb070b06a2dec1482aaca2982df3fedd4 in this case) does not have any relationship to the local name part if the IRI for that value node.
wdv: and the local name being the hash of the value contents (e.g. wdv:382603eaa501e15688076291fc47ae54).
There is no guarantee of the value of the hash except for the fact that
different values will be represented by different hashes, and same
value mentioned in different places will have the same hash.