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What is mining hash rate ?🧐

Hash rate is a measure of the computational power of a cryptocurrency network, group, or individual. It's a key part of the crypto mining process and is used to: 
 
Determine mining difficulty: Hash rate is used to adjust the difficulty of the puzzles that miners need to solve. 
 
Gauge security: Hash rate can help gauge the security of a blockchain network. 
 
 
Determine network participation: Hash rate can help determine how many participants are in a network. 
 
Predict profitability: Hash rate can help miners predict how profitable they'll be. 
 
Hash rate is measured in units of hash/second, which is how many calculations can be performed per second. For example, a hashrate of 1 Mhash/s means 1 million hash calculations are done every second. 
 
Hash rate is important because it helps ensure that new blocks are added to the blockchain at a consistent rate. This is done by adjusting the difficulty of the puzzles as more miners join the network.

Hodler exploring web3. Solana airdrop farmer, bitcoin solo miner, Helium network miner, and Medium blogger. 🎭🎭🎭

Great explanation, Steve! Hashrate is the basis of blockchain security and stability. Thanks for the clear explanation! 🙌