Cryptionary

Hash rate

1. network

In the context of a blockchain network, hash rate is a numeric representation of the computational power used to secure the network. The higher the hash rate, the more secure the network is against attacks and potential takeovers.

1.1

"Bitcoin's network has the highest hash rate among cryptocurrencies, making it the most secure blockchain."

2. mining

For mining hardware, the hash rate represents the speed at which it can perform hashing operations, which are used to solve proof-of-work algorithms. A higher hash rate indicates more mining power and potentially higher profitability, assuming factors like power consumption and current market price are constant.

2.1

"High-end mining rigs can have a hash rate of several terahashes per second (TH/s), but they also consume more power."

3. impact

Changes in the hash rate can impact the difficulty of mining new blocks. If the hash rate increases, the difficulty of the proof-of-work algorithm also increases, maintaining the balance and the block time.

3.1

"When many miners join the network and the total hash rate increases, the difficulty of mining a new block in the Bitcoin network adjusts to keep the block time close to 10 minutes."

* All terms and definitions may update as the Cryptionary improves.

All terms

Diamond Hands Mining Difficulty Dollar Cost Averaging Double Spend Dump Dust ERC-20 Token ERC-721 Token Ethereum Ethash Ethereum Virtual Machine Cryptocurrency Exchange Faucet Fiat Currency Flippening FOMO Fork FUD Genesis Block Halving Hash rate Hodl ICO IEO Instamine JOMO Know Your Customer Lambo Lightning Network Limit Order Liquidity Locktime Majority Attack Market Cap Market Order Masternode Maximalist Maximum Supply Mempool Mining