def hash(value, algorithm='sha512'):
    '''
    .. versionadded:: 2014.7.0

    Encodes a value with the specified encoder.

    value
        The value to be hashed.

    algorithm : sha512
        The algorithm to use. May be any valid algorithm supported by
        hashlib.

    CLI Example:

    .. code-block:: bash

        salt '*' random.hash 'I am a string' md5
    '''
    if six.PY3 and isinstance(value, six.string_types):
        # Under Python 3 we must work with bytes
        value = value.encode(__salt_system_encoding__)

    if hasattr(hashlib, ALGORITHMS_ATTR_NAME) and algorithm in getattr(hashlib, ALGORITHMS_ATTR_NAME):
        hasher = hashlib.new(algorithm)
        hasher.update(value)
        out = hasher.hexdigest()
    elif hasattr(hashlib, algorithm):
        hasher = hashlib.new(algorithm)
        hasher.update(value)
        out = hasher.hexdigest()
    else:
        raise SaltInvocationError('You must specify a valid algorithm.')

    return out
.. versionadded:: 2014.7.0

    Encodes a value with the specified encoder.

    value
        The value to be hashed.

    algorithm : sha512
        The algorithm to use. May be any valid algorithm supported by
        hashlib.

    CLI Example:

    .. code-block:: bash

        salt '*' random.hash 'I am a string' md5