The paper presents analysis of the possibility of using selected hash functions submitted for the SHA-3 competition in the SDEx encryption method. The group of these functions will include the finalists of the SHA-3 competition, i.e. BLAKE, Grøstl, JH, Keccak, Skein. The aim of the analysis is to develop more secure and faster cryptographic algorithm compared to the current version of the SDEx method with SHA- 512 and the AES algorithm. When considering the speed of algorithms, mainly the software implementation will be taken into account, as it is the most commonly used.