What Is the Significance of “Hash Rate” in Cryptocurrency Mining?
Hash rate is the measure of the total computational power being used to mine and process transactions on a Proof-of-Work blockchain network. It represents the number of guesses a miner or mining pool can make per second to find the valid block hash.
A higher hash rate increases a miner's probability of finding the next block and earning the reward. It is a key indicator of the network's security, making a 51% attack more difficult.
Glossar
Higher Hash Rate
Security ⎊ A Higher Hash Rate signifies an increased aggregate computational power actively dedicated to solving the cryptographic puzzles on a Proof-of-Work blockchain.
Hash Rate
Power ⎊ Hash rate quantifies the total computational power dedicated to solving the cryptographic puzzle in a Proof-of-Work network.