I have gone through the below link.
Looks like SHA1 has been deprecated and kept for backwards compatibility. We are using 7.0.
Please let us know how long will you support the same in case if we use this in our business logic.
From a security perspective, using SHA1 is not a good choice as it’s possible to create collisions. One should choose a different algorithm. If you really need SHA1 because of legacy dependencies, it is available. There is no plan to remove SHA1 support.
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Thank you very much for quick clarification.