A proposed hash algorithm to use for blockchain base transaction flow system

Abstract

Blockchain technology introduces a new approach to storing information, implementing tasks and functions, and building trust between participating nodes. Although blockchain technology has received extensive attention in various application contexts in recent years, the issue of privacy and security remains the primary focus of discussions of the blockchain. The use of hash algorithms can provide secure blockchain integration, and many hash algorithms offer solutions to data integrity and security problems within the context of blockchain technology. However, they are also subject to problems related to time, lack of resources, and memory usage. In this research, an algorithm is proposed to generate a hash based on chaos theory (1D and 2D) logistic maps and the new Merkle-Damgård construction. Hash outputs are tested in terms of time, complexity, and collision. The proposed algorithm is evaluated according to Jaccard similarity and various coefficient measurements, and it was found that the similarity between the inputs and the outputs does not exceed 0.1932 percent. All outcomes indicated successful performance. The proposed algorithm was implemented on a blockchain-based transaction flow system, consumed fewer resources than other hash algorithms (such as SHA1, SHA2, and MD5), and requires mere milliseconds to implement.