Keccak is a cryptography algorithm that has an important place in the cryptocurrency world. Keccak was first used in 2008. Although Keccak can be used for other purposes, it is also known as a hashing algorithm that offers a higher-level of security compared to older hashing algorithms such as SHA-1 and SHA-2. Keccak has been recognized as a hash function standard called SHA-3. The Keccak algorithm is also used for various cryptographic reasons, such as securely ensuring the integrity of data and information on a network, protecting data confidentiality, or digital signing.

Keccak is particularly resistant to attack. This robustness is the most important feature that distinguishes Keccak from other hash algorithms and functions. The Keccak algorithm receives and holds data in a specific block size. Keccak algorithm goes through this data. It then produces a fixed-size hash value as output. Compared to other hashing algorithms and functions such as SHA-2, Keccak provides a higher-level of security by performing fewer operations.

SHA is a short form of Secure Hash Algorithm. SHA refers to a set of cryptographic hash functions published by the United States National Institute of Standards and Technology (NIST). At the same time, SHA-1 and SHA-2 were produced by the United States National Security Agency (NSA). Therefore, they have a similar structure.

The Keccak algorithm, also known as SHA-3, was developed in a competition organized by NIST in 2007. This competition was open to the public. The purpose of this competition was to search and find a hashing algorithm that would overcome the flaws and vulnerabilities of SHA-1 and SHA-2.

In 2004, different theoretical attacks were launched against SHA-1. These attacks were publicized in 2005. Then in 2011, the new SHA-2 was accepted by NIST as a new standard encryption algorithm. However, the transition from SHA-1 to SHA-2 has been very slow. In early 2017, the majority of developers and computer scientists were finally able to switch to SHA-2. Shortly after, Google announced a successful SHA-1 collision attack in February 2017. After this incident, confidence in SHA-1 and its use plummeted.

Although SHA-2 has not yet been heavily attacked, hashing algorithms lose some of their capabilities over time. Therefore, these hash functions and algorithms become obsolete and new algorithms need to be developed. The development of a new hashing algorithm or function is a process that takes years. This is why NIST evaluated the winner of the competition, Keccak's algorithm, as SHA-3 in 2012 and made it the new standard.

One of the most important reasons why Keccak was chosen by NIST is that it is more secure and efficient than other hash algorithms and functions. In technical terms, the SHA-3 algorithm is based on sponge functions, as opposed to the Merkle Damgård structure favored by SHA-1 and SHA-2. Today, SHA-2 is still widely used.