NIST Already Initiated Effort to Develop Additional Hash Algorithms Before SHA-1 Cracked

As a result of recent attacks on the SHA-1 hash function specified in FIPS 180-2 , Secure Hash Standard, NIST (National Institue of Standards and Technology) is initiating an effort to develop one or more additional hash algorithms through a public competition, similar to the development process for the Advanced Encryption Standard (AES).

The competition was initiated in response to the SHA-1 vulnerability announced in Feb. 2005. Don't expect a new, more secure hash next month, though. The process is tentatively scheduled to conclude in the third quarter of 2012.

NIST has been recommending since March 2006 that federal agencies should (emphasis NIST) stop using SHA-1 for digital signature and timestamping as soon as practical, moving to SHA-2. Agencies must be using the SHA-2 family of encryption after 2010.

More information on NIST's plans here.