Today, cryptographic hash functions have numerous applications in different areas. At the same time, new collision attacks have been developed recently, making some widely used algorithms like SHA-1 vulnerable and unreliable. This article is aiming at the development of a new hashing algorithm that will be resistant to all cryptographic attacks, including quantum collision attacks that potentially pose a threat to some widely used cryptographic hash functions. This algorithm was called Nik-512. The avalanche effect is tested to ensure the cryptographic strength of the developed algorithm. The Nik-512 function is then applied to build a data integrity system which can be used to protect data from malicious users.