BLAKE2 Claims Faster Hashing Than SHA-3, SHA-2 and MD5
hypnosec writes "BLAKE2 has been recently announced as a new alternative to the existing cryptographic hash algorithms MD5 and SHA-2/3. With applicability in cloud storage, software distribution, host-based intrusion detection, digital forensics and revision control tools, BLAKE2 performs a lot faster than the MD5 algorithm on Intel 32- and 64-bit systems. The developers of BLAKE2 insist that even though the algorithm is faster, there are no loose ends when it comes to security. BLAKE2 is an optimized version of the then SHA-3 finalist BLAKE."
Give it, oh, five more versions.
The BLAKE hash function was an also-ran finalist for the NIST Hash function competition ( http://en.wikipedia.org/wiki/NIST_hash_function_competition ). There is not yet a wikipedia page for BLAKE2, but the winner of the NIST competition was Keccak now known simply as SHA-3 since it won the competition.
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Why would an optimized (optimized for run time speed? optimized for low memory footprint while running? optimized to minimize the likeliness of hash collisions) version of the same BLAKE entrant be more useful? Perhaps an improved algorithm that made it better competition for Keccak would make more sense. I don't know enough math to say completely, and still need to read the details.
Fast hashing has its uses as well. Such as verifying data transmissions. Passwords aren't the only things that we hash.