MODIFIED MD5 USED FOR ENHANCED PERFORMANCE OF HASHING ALGORITHM IN BLOCKCHAIN
Blockchain mechanism performs the hashing during block generation. There have been several hashing techniques in existence such as SHA128, SHA256, SHA512, MD5. It has been observed that SHA256 has been frequently used in Blockchain. Several factors namely as storage space, time complexity and collision ratio is considered while choosing appropriate hashing technique. SHA256 has better collision resistance and it takes optimum space. In proposed work modified MD5 has been used as hashing technique. However traditional MD5 has less collision resistance as compare of SHA256 but it takes comparatively less storage space. The objective of research is to propose a better modified MD5 approach in which has better collision resistance as compare to traditional MD5, modified MD5 occupied storage is less time consuming. Therefore, there is the requirement of a system which is capable of providing the security with good performance. In the research work the modified MD5 has been simulated for storage space and collision probability along with the simulation of CPU clock cycle. The result of modify MD5 when companied with MD5, SHA1 and SHA256 shows better collision resistance, consuming less storage space and time.