What is Ethereum hashrate?

Ethereum hashrate is a calculated numerical value that specifies an estimate of how many hashes are being generated by Ethereum miners trying to solve the current Ethereum block or any given block. Ethereum hashrate is represented in Hashes per Second or H/s.

What is a hashrate & how does it work?

Miners must compete using their machines to solve a difficult mathematical problem. "Hashrate" refers to the total combined computational power that is being used to mine and process transactions on a Proof-of-Work blockchain, such as Bitcoin and Ethereum (prior to the 2.0 upgrade).

Why is mining hashrate important?

Mining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Although Bitcoin’s exact hashing power is unknown, it is possible to estimate it from the number of blocks being mined and the current block difficulty.

What is the hashrate of a mining rig?

Your GPU or mining rig is calculating thousands, millions of hashes (solutions) per second. For example, one Nvidia 1070 Ti graphics card has a hashrate of 31 MH/s, according to the 2CryptoCalc mining profitability calculator. It means that it is calculating 31 000 000 solutions per second.