Hashrate is a significant mesure of total miner´s computational power in a blockchain network, especially in the case of those employing Proof-of-Work (PoW) systems such as Bitcoin. It shows the number of “hashes” or rather attempts, that the miners can do in a second while trying to solve the mathematical riddles that let new blocks be added to the blockchain. Thus, the network’s attempts per second are directly proportional to the hashrate.
A good hashrate is considered a security and welfare indicator of a PoW network. The more miners there are providing computing power, the harder it becomes for a single group to seize control or carry out a 51% attack. That means, high hashrate translates into more competition, better security, and a more robust blockchain.
Hashrate in terahashes is (TH/s), petahashes is (PH/s), and exahashes is (EH/s) per second. These figures indicate the vast amount of computational power being utilized in the entire mining ecosystem.
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Hashrate is the most important element affecting the reward of miners. Higher personal hashrate increases the chance of solving a block but at the same time, the increase of the whole network hashrate may also result in harder mining conditions.
In conclusion, hashrate is an ultimate indicator of power in a PoW blockchain and is a main factor in both performance and security.