Hydrogen Peroxide is used to bleach hair, it is also a potent oxidiser and is used in rocket motors usually in combination with hydrazine or nitromethane fuel to provide more oxygen than atmospheric intake.
I wouldn't advise the use of rocket oxidiser for bleaching your hair though, it's pure H2O2 and will bleach your hair and skin to the point of it catching fire in a few seconds, hair bleach is usually 3-5% solution in water.
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