Hash power

Real Satoshi
Aug 31, 2018 · 1 min read

Definition

Hash (Rate)A hash is the output of a hash function and, as it relates to Bitcoin, the Hash Rate is the speed at which a compute is completing an operation in the Bitcoin code. A higher hash rate is better when mining as it increases your opportunity of finding the next block and receiving the reward.

Explanation

I think all the users of Cryptocurrencies must have heard that this number of times of Bitcoin’s hash rate/hash power has increased or decreased. Hash rate or Hash power is actually very important for any Cryptocurrency’s network, because it measures the energy of mining process.

The process to find the next block is known as hash power. Hash rate, miners reward and difficulty level are interdependent on each other. Whenever the difficulty level of bitcoin or any network goes up, higher hash rate is required to find the next block and hence more miners joining is the result which in return again increases difficulty level. This causes a vicious cycle. Hence, higher the hash rate is good for crypto related projects. In my next post, I will discuss in detail that how Bitcoin Real (BTCr) is consuming low Hash Power and mining a lot of coins.

Note; Hash power is using in every Cryptocurrency that is a proof of work. I know, you guys are thinking that Bitcoin Real is using Proof of stake; Yes, it will be. Bitcoin Real is using proof of work now, but soon it will be using proof of stake once its coins will be done with enough circulation.

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