What is hashrate?

"Hashrate" refers to the total combined computational power that is being used to mine and process transactions on a Proof-of-Work blockchain.Hashrate refers to the number of hashes that can be executed per second. Taking Bitcoin as an example, the mining of Bitcoin is actually a process of constantly computing and finding a random number that meets the requirements of the function, so the hashrate is actually a computing capacity.

The hashrate is an important metric for assessing the strength of a blockchain network – more specifically, its security. The more machines dedicated by honest miners to discovering the next block, the higher the hashrate rises and the harder it becomes for malicious agents to disrupt the network.

The total network hashrate is the number of hashes that all devices in the current network can execute per second. The mining pool hashrate refers to the number of hashes that devices connected to the mining pool can execute per second, while the mining machine hashrate refers to the number of hashes that a single mining machine can execute per second under ideal conditions.