Hash Rate (Hash Power)

Hash rate, also sometimes referred to as hash power, is a measurement of the number of hashes produced as part of the mining process in a Proof of Work blockchain. Hash rate is typically calculated on a per-second basis and is considered a key indicator of a blockchain's security levels. In the context of Proof of Work blockchains, blockchain miners or block producers must produce computations, or 'guesses,' to 'discover' a hash for a new block. In practice, this is done by iterating through the nonce to find a solution of sufficient difficulty. The hash rate refers to the speed at which such computations are conducted or the frequency at which 'guesses' are made. Miners with higher individual hashing power are more likely to win the right to create blocks and earn block rewards. Higher network hash rates theoretically translate to greater security from a 51% attack, as they indicate greater computational power required to control over half the network. A network's hash rate is closely related to its difficulty via the difficulty adjustment algorithm.