1. QiAi QuestsHome
  2. Crypto & Markets

What Does Hashrate Represent and What Does It Mean (Meaning of Hashrate)

• Crypto & Markets • 49 views

What does hashrate represent and what does it mean? In simple terms, the size o

What Does Hashrate Represent and What Does It Mean (Meaning of Hashrate)

What does hashrate represent and what does it mean? In simple terms, the size of the hashrate determines the miners’ earnings. The Bitcoin network produces one block every 10 minutes, which is approximately 4 seconds long. Based on the current price of BTC, the hash value is around 38,000 times.

Currently, the difficulty of Bitcoin mining has reached its highest level in history (as of May 27, 2019, according to the latest data from Ant Research Institute, the average block time in 2018 exceeded 120,000 times), and the total network hashrate has reached 13T, a decrease of more than 40% compared to the peak at the end of 2017.

Of course, there is also a theory that if Bitcoin is seen as a currency or an investment form, it will become part of the digital asset market. So, the value of Bitcoin is the scale of hashrate. However, in the specific blockchain context, how much hashrate can ensure that its price can be maintained at a high level? The answer may be that Bitcoin below 10,000 can be used as collateral for lending or purchase of commodities. Therefore, the price of Bitcoin does have a certain degree of influence on its hashrate.

Meaning of Hashrate

Hashrate is the computational power of a computer, which is often referred to as “mining” in the world of digital currency. Simply put, it is the unit used to measure the computational power compared to power consumption. For example, if you have a computer that can produce 10 blocks of content data per day and generate 10,000 blocks of data within a day, and these data come from government departments or certain institutions or other people, can someone who knows these contents provide them to them? This is actually the power of hashrate, because the role of hashrate is to enable people to better utilize and process information and obtain value, with the most important role being cost reduction.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/25196.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/19/2023 09:20
Next 08/19/2023 09:43

Related recommendations