Hash rate

Hash rate, also called hashrate, is the number of hash calculations mining equipment performs per second. It shows how much computing work a miner or network does.

What is hash rate?

Hash rate is measured in hashes per second (H/s). A hash is a digital output that equipment calculates from data. In mining, equipment repeatedly tries to find an output that meets the rules.

In proof-of-work networks like Bitcoin, a higher hash rate means more attempts per second. This increases the chance that a miner will find a valid block. The total network hashrate is usually an estimate, not a direct count of all the machines.

Hash rate doesn’t indicate how many transactions a blockchain can process per second.

An example of hash rate

A hypothetical Bitcoin miner with 100 TH/s performs about 100 trillion hash calculations per second. TH/s means terahashes per second.

If that miner has 1% of the total hash rate, then over the long term, under the same conditions, it can be expected to find about 1% of the blocks. The actual result may differ due to chance.

Why is hash rate important in crypto?

Hash rate often comes up in crypto news in connection with mining equipment, changes in mining activity, and the security of proof-of-work networks. More honest computing power generally makes it harder for an attacker to gather enough competing computing power to carry out an attack.

However, a high hash rate doesn’t guarantee complete security. The distribution of computing power and the resources available to a potential attacker also matter.

Don’t compare the hash rates of different cryptocurrencies without considering other factors. Their mining algorithms may differ. A higher hash rate also doesn’t automatically mean more profit for miners: electricity, equipment, difficulty, and rewards all play a part.