The most commonly used hash function in the protection of internet transactions is expected to "fall" at the beginning of 2016.
SHA1 is a hash function. In other words, it is a mathematical algorithm allowing the creation of the digital fingerprint of a text, a picture and more generally IT data. This function is fundamental to the modern cryptography in the protection of our communications and securisation of our computers.
Before using SHA1, the industry was relying on the MD5 function which is completely obsolete now. If we analyse the difficulty faced by IT stakeholders in modifying their code so as not to use MD5 anymore, we may indeed worry about the little time remaining to get rid of SHA1.
But it is not up to us: the computing power of graphical processors has evolved and strongly reduced the time necessary to attack SHA1. The updating process of SSL certificates and other softwares inside its infrastructure must thus speed up.