What is Hash Rate?

A hash rate is the measure of miner’s performance. In other words, it is the hash function’s output or it is the speed on which a miner solves the Bitcoin code. In the year 2014, the performance of miner was measured in Billions of hashes/s.

The higher hash rate means increased opportunity of mining and receiving block reward. The hash/s is measure of efficiency of miner in W/Ghash/s. Hash/s is also measured in J/Ghash (Joules per 1 Billion hashes).

Hash per second represents SHA-256 algorithms that are used per second, known as hash rate. It is SI derived unit that is symbolized as h/s.

Bitcoin’s Hash Rate

For Bitcoin network calculations, the hash rate uses hash/s. As a mining pool or miner relies on the solved block, so the whole network’s hash rate is calculated as per the time in between blocks. However, the hash rate network’s accurate measure is not taken at given point of time, so the measurements done after long is considered as indicative.

In January 2015, the hash rate of network was approximately 300 quadrillion hashes/s or 300 Phash/s.

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