In 2010, the National Institute of Standards and Technology (NIST) announced five finalists in its competition to develop a new cryptographic hash algorithm called SHA-3. Hash algorithms are used to create unique digital fingerprints of data, ensuring security in digital signatures and random number generation. The competition was launched due to concerns about the security of existing hash algorithms, and SHA-3 was intended to be a new standard to replace or supplement current ones.
The five finalists were selected after a multi-year process that included public feedback and security analysis. They were allowed to make small changes to their algorithms before a final review period, which ended in early 2011. NIST planned to choose the winner by 2012 after further analysis and public input. The goal was to ensure SHA-3 would be secure and efficient for future use in digital security systems.
Keywords: Hash Algorithm, SHA-3, Digital Signature
