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Is higher hashrate really better?

Hashrate is a derived unit that expresses the execution in one second for cryptocurrency mining in the Bitcoin network, while hashrate is also known as hash power, which is usually expressed as h/s. Hashrate is the primary measure of Bitcoin miner performance, and in 2014, miner performance was typically measured in Ghash/s, or billions of hashes per second. The hash/second unit is also part of a common metric for measuring the electrical efficiency of Bitcoin miners, expressed in watts/Ghash/s, denoted as W/Ghash/s, a metric that can also be expressed as J/Ghash, or joules per billion hashes. So is the higher the hashrate, the better? Let me analyze what a higher hashrate means for you.

Hashrate is a measure of the security of the Bitcoin network. In order to be safe, the Bitcoin network must perform high-intensity calculations. The hashrate of the network reaches 10TH/s, which means that the network can handle 1 billion calculations per second (that is, mining that we often hear). Mining is all about providing computing power in exchange for Bitcoin (BTC) as a reward.

The higher the hashrate, the better, and the Bitcoin hashrate is an important measure of how quickly miners can confirm transactions on the blockchain. Hashrate can be used to measure the security of the Bitcoin network. When the hashrate is relatively high, it can better resist malicious behaviors such as 51% attacks. Therefore, an increase in the hash rate of Bitcoin means that the security of the network is improved, which can increase the confidence of Bitcoin investors. Mining is to provide computing power in order to obtain Bitcoin (BTC) as reward. The higher the hashrate, the higher the difficulty of mining, and mining is an act that consumes a lot of electricity and other costs.

Hashrate is an important metric for assessing the strength of a blockchain network, and more specifically, its security. The more machines honest miners use to find the next block, and the higher the hash rate, the harder it is for malicious agents to compromise the network.

The more people participating in mining, the more competition there is, the difficulty of mining increases, and some people continue to mine, which means that everyone is willing to spend more to mine, which means that the current value of Bitcoin can meet the mining cost. Logically, an increase in the hashrate is usually accompanied by an increase in the price of Bitcoin. On the contrary, when the market panics and the currency price collapses, the miners withdraw from mining, which will lead to a decrease in the difficulty of mining and a decrease in the hashrate.

Hash rate calculation method

Calculating the hash rate requires certain computing power and technology. The hardware used for Bitcoin mining is usually special ASIC (Application Specific Integrated Circuit) chips, which are specially designed for Bitcoin mining and have a very fast hash rate.

bitcoin hashrate and price
From article: Mining revenue remains high while difficulty soars for Bitcoin and Ethereum

The difficulty of calculating the hash rate is also increasing. The Bitcoin network is designed to maintain a fixed block time, so it controls mining speed by dynamically adjusting the hash rate difficulty. This means that the higher the hash rate, the harder it is to mine.

Mining revenue remains high while difficulty soars for Bitcoin and Ethereum

Calculating the hash rate requires a complex algorithm known as the SHA-256 algorithm. This algorithm converts the input data into a 256-bit hash value. This process requires a lot of computing power, so powerful hardware and software are required to calculate the hash value.

Using the hashrate may be difficult to accurately judge the price trend of the currency. The rise of the hashrate does not necessarily mean that the currency price will rise, but the decrease of the hash rate has a high probability that the participants will leave the market. When the number of users of the Bitcoin chain decreases, the value of the chain will decrease. There is a high probability that the currency price will be lowered. Hash rate may still be a key indicator of the value of a chain.

The exact Bitcoin hashrate cannot be determined, although it can be estimated. Hashrate has traditionally been estimated from Bitcoin’s publicly available data, including the aforementioned difficulty metric. While correct, this traditional method of estimation has long been criticized for being imprecise. Cryptocurrency exchange Kraken has come up with an alternative method of estimating hashrate, using statistics to show with 95% confidence that the hashrate is within someone’s range. In Bitcoin’s short history, more and more miners have joined the fray, driving up the hashrate.

What are mining Hashrate units EH/s, PH/s, TH/s, GH/s, MH/s, KH/s, H/s?

what is hash rate
From article: Explaining Hash Rate Or Hash Power In Cryptocurrencies

At present, there are many units of mining computing power, such as EH/s, PH/s, TH/s, GH/S, MH/S, KH/S, H/s, etc. The following editor will introduce these units in detail for you.

Hashrate power unit:
First of all, investors need to know what H/s means. H/s: is the smallest unit. A computer random hash collision is done every second, which is called Hash/s unit abbreviated as H/s.

Mining computing power EH/s: 1EH/s=1000PH/s 1,000,000,000,000,000,000 hashes per second. PH/s: 1PH/s=1000TH/s 1,000,000,000,000,000 hashes per second. TH/s: 1TH/s=1000GH/s 1,000,000,000,000 hashes per second GH/s: 1GH/s=1000MH/s 1,000,000,000 hashes per second.
MH/s: 1MH/s=1000KH/s, M is mega, 1M=1000 thousand, 1MH/s=1,000,000 hashes per second KH/s: 1KH/s=1000H/s usually means K=thousand, 1,000 hashes per second The mining pool divides a round of hash value calculation work into several tasks, and distributes these tasks to mining machines for calculation. Behind each task is actually this round The corresponding reward share in mining is what we often call share.

Of course, how many shares a task is divided into by each mining pool, and the weight of each share is its own strategy, which may not be exactly the same. But one thing is certain, as long as the mining machine calculates the task correctly, it can get the corresponding reward share. The computing power of the mining pool is displayed on the query page of your mining pool. The computing power data here is a data indicator to evaluate the actual computing workload. This data is related to your actual income.

Generally speaking, in the process of solving, that is, mining, the stronger the computer’s ability, the faster it can calculate the answer, and the more digital currency can be obtained. The computing power of this computer refers to the mining computing power. When it comes to digital currency mining, it will definitely involve computing power, and computing power is divided into local computing power and mining pool computing power. Friends who have mined mines know that these two computing powers will never match. The local computing power is the computing power displayed by your local mining machine. The computing power of the mining pool is displayed on the query page of your mining pool. It is divided into the total computing power and the computing power of a single mining machine. The total computing power is the sum of the computing power of all the mining machines in the wallet address. Generally, the computing power of mining pools is the average value displayed, which is divided into 15-minute average computing power and 24-hour average computing power.

 At the same time, the mining pool also distributes income and settles wages according to this computing power, so this is the most important thing. The local level will not directly affect your income. It’s just that the higher the local computing power, the higher the mining pool’s computing power, and the higher the income, but there are many other factors.

The relationship between a miner and a mining pool is equivalent to the relationship between an employee and a boss. Like many companies, mining pools quantify their work. According to the calculation formula (the formula is different for each mining pool, so there will be situations where your same local computing power may be high or low in each mining pool. Mining pools look at your final workload, not how much computing power you have. This is the difference between local computing power and mining pool computing power. Local computing power can only prove that you may do so much work rather than what you actually did. Proof of how much work was actually done.

Hashrate is an important indicator of the Bitcoin network, but it does not directly affect the price of Bitcoin.

Hash rate is the number of hashes performed on your computer per second by all miners in the network. It is measured in gigahashes per second (GH/s). The higher your hashrate, the faster you can solve a block and earn rewards from mining.

JASMINER OPEN DAY 002–“X16 New Product Meeting” Shanghai Station Circle Full curtain

On July 8, with Shanghai as the second stop, JASMINER OPEN DAY 002–“X16 New Product Meeting” was held in Juchuang Building, Pudong New Area. JASMINER brought the new X16Q product and a variety of high-throughput computing power chip solutions to meet the user partners present at the scene, bringing advanced products and breakthrough technologies to users, and interpreting the core strength of the product with innovation.

jasminer news
From article: JASMINER made a wonderful appearance at the 2nd Shanghai Cyber Security Expo in 2023

As a computing power pioneer in the Web 3.0 industry, JASMINER has always been adhering to the concept of “computing power makes human beings more free”, combining years of technology accumulation with the mission of “creating the highest quality computing power”, leading the development and manufacturing of high-throughput computing power products. With the new X16 series products as the core, JASMINER has insight into the needs of industry users, strengthens the research and development of solutions, and polishes a high-throughput “silent” computing power solution, which is built at the meeting. JASMINER product director Victor carried out the evolution around the upgrade of the “sound” computing solution and the professional change

He said that the X16-Q has significantly improved computing power, energy efficiency, and quietness, which will greatly enhance the user experience. Its rated computing power is 1950MH/S, power consumption is only 620W+10%, and energy efficiency ratio is leading 0.32J/MH+10%. It also has a newly upgraded 8G (DAG) storage, supports ETCHASH and ETHASH algorithms, has a 3U standard size, and has an operating noise of only 40dB+10%. It can meet various complex computing needs in environments such as homes and IDCs.

With the thinking of JASMINER as a high-throughput computing power chip solution provider, Jason, the product manager of JASMINER, combined with the relevant knowledge and technology of Ethereum Classic (ETC), also provided practical industry information and investment suggestions for on-site user partners, and provided everyone with comprehensive industry analysis and forecast. He said that JASMINER will be deeply involved in the field of high-throughput computing power chips, and the multi-dimensional integration of products, solution research and development, and technical services will continue to create value for Web 3.0 users and the market.

In 2023, based on the new industry development needs, JASMINER will focus on the new generation of X16 series products to provide more new possibilities for the Web 3.0 industry. Link products, services and applications.

For use, JASMINER responds to time changes with its own changes. New products and new solutions will have a profound impact on the Web 3.0 industry in 2023 and open a new starting point for industry prosperity.

jasminer news 1
From article: JASMINER made a wonderful appearance at the 2nd Shanghai Cyber Security Expo in 2023

At the “New Technology-Innovation Empowering Digital Security” Summit Forum held at the same time, JASMINER Product Director Victor delivered a keynote speech on “New Ideas for Independent High-end Chip Development”. He mentioned that JASMINER takes Web 3.0 computing power production as the key scenario, and provides customers with high-throughput computing power products and security services integrating information security, network security, and data security through storage and computing integrated high-throughput computing power chip solutions. As a global brand with powerful high-throughput chip technology, JASMINER has independently developed leading products and technologies in the full-stack layout of chips, frameworks, models, and applications.

At present, a new round of technological revolution and industrial transformation is accelerating, and computing power network security has ushered in stronger development momentum and broader development space. As an industry innovation practitioner, JASMINER will always adhere to technological innovation as the drive and industry development as the orientation, and provide global users with a more efficient and energy-saving computing power network security protection system. The advent of X16 series products will further protect the safe circulation of data elements and consolidate the foundation of computing power in the digital age.

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