For more information regarding the Cryptographic Hash Algorithm Competition (Hash Function), please visit the Computer Security Resource Center (CSRC).
A cryptographic hash algorithm (alternatively, hash "function") is designed to provide a random mapping from a string of binary data to a fixed-size “message digest” and achieve certain security properties. Hash algorithms can be used for digital signatures, message authentication codes, key derivation functions, pseudo random functions, and many other security applications. The Federal Information Processing Standard (FIPS 180-4), Secure Hash Standard, specifies seven cryptographic hash algorithms for Federal use, and is widely adopted by the information technology industry as well.
In 2004-2005, several cryptographic hash algorithms were successfully attacked, and serious attacks were published against the NIST-approved SHA-1. In response, NIST held two public workshops to assess the status of its approved hash algorithms, and to solicit public input on its cryptographic hash algorithm policy and standard. As a result of these workshops, NIST decided to develop a new cryptographic hash algorithm for standardization through a public competition. The new hash algorithm would be referred to as SHA-3.
NIST announced the SHA-3 Cryptographic Hash Algorithm Competition on November 2, 2007, and ended the competition on October 2, 2012, when it announced KECCAK as the winning algorithm to be standardized as the new SHA-3.