In short, the process of mining involves a myriad of hashing attempts, until a valid hash is produced. In other words, a Bitcoin miner needs to run a bunch of data through a hash function in order to produce a hash, and they are only successful when a certain hash value is generated (a hash that starts of a certain number of zeros).
Typically, the hash rate is measured in hashes per second (h/s) along with an SI prefix, such as mega, giga, or tera. For instance, a blockchain network that computes one trillion hashes per second would have a hash rate of 1 Th/s.
The verification of transactions on a blockchain network, in which transactions are added as entries into t...
A collection of many miners, often in a warehouse or large data center devoted to mining cryptocurrencies
Refers to a special feature that is used to create smart contracts that are able to modify payment channels.