Yenten hash rate is the number of attempts performed per second with the YesPowerR16 algorithm to verify a transaction on the Yenten blockchain.
More verification power means more chance of block reward and finding a new block. If you are planning to get involved in crypto mining, it is very important to know what the hash rate term is and its importance.
In the simplest terms, hash rate, also known as hash rate, refers to the operating speed of any mining device. Speed is important because cryptocurrency mining is truly a guessing game. While the term mining evokes a linear process of beginning and end, such as digging a tunnel, it is actually quite different. Each mining device makes thousands or even millions of guesses per second. The goal is to find the right answer to the question that will solve the current block.
Mining and Hash Rate Measurement
Cryptocurrency mining involves finding blocks through complex calculations. Blocks are like mathematical puzzles. The mining machine makes thousands or even millions of guesses per second to find the correct answers to solve the block.
Hash rate is calculated as hash per second (h / s). Hash rate is expressed in terms familiar to those who understand computer data storage terminology. Terms like mega, giga, and tera are commonly used when describing hash rete. Starting from the lowest, 60 hashes per second rate means that the device can make 60 guesses per second to solve a block. So;
kilohash = 1.000 hash
megahash = 1.000 kilohash
terahash = 1.000 megahash
petahash = 1.000 terahash
The hash rates of the various machines used to issue different cryptocurrencies are not equal. For example, a machine used for Bitcoin mining has a different hash rate than Ethereum. This can be defined by the different algorithms used by cryptocurrencies as it does not use the same amount of memory and computing for mining.
Mining Difficulty and Hash Rate Relationship
Let’s take Bitcoin to explain this relationship. As the difficulty of Bitcoin mining increases, the hash rate also increases and as a result the miner earns 12.5 BTC and transaction fee. The Bitcoin mining difficulty is heightened as a miner has to calculate more predictions per second.
Hash Rate and Electricity
When calculating profits, you need to consider the electricity costs associated with mining equipment. We can briefly call this factor mining efficiency. An increase in a cryptocurrency mining difficulty will increase the cost of electricity. Take, for example, two Bitcoin mining machines. Someone have 10% higher hash rate. But while it has a high hash rate, it also has 50% higher electricity cost. So this machine will be much more costly than the other.
Some countries have higher Bitcoin hash rates than others, and there are several factors behind this. But the most important of them is the cost of electricity. Countries with cheaper electricity sources like China tend to have higher Bitcoin hash rates than those with higher costs like the USA. According to a report by researchers from Princeton University and Florida International University, it turned out that more than 70% of the Bitcoin hash rate comes from or is managed in China. Other countries that contribute to the hash rate include the Czech Republic (about 10%), Iceland (about 2%) and Japan (about 2%).
Laptops and Mining
While it is possible to get the 12.5 bitcoin mining reward by solving a Bitcoin block using a 10-year-old laptop, it is worth saying that the probability is even less than a lightning strike on a clear sunny day. So these days we can say that it is impossible to extract Bitcoin using a standard computer. When Bitcoin first came out, it was possible to mine with a standard computer or, more technically speaking, using computers’ GPUs.
The GPU is part of the system of processors that handles graphics. The work he is doing deals with very repetitive and high amount of transactions at the same time. GPUs are very fast and their main function is to process and design graphics data. For this reason, it is not possible to do many tasks at the same time, such as the CPU.
Hash Rate and Price Relationship
There is a correlation between bitcoin hash rate and price. With the higher Bitcoin price, the hash rate in the network tends to increase. When the Bitcoin market goes down, the hash rate tends to decrease gradually.
Let’s look at the Bitcoin price between July 2018 and June 2019:
Paying miners in bitcoin, revenue shrinking when the price drops, and often disconnection of some miners’ machines are the reasons for the price drops. Meanwhile, as the Bitcoin price rises, more people are encouraged to mine.
Hash rate is an important factor to consider in mining. However, never forget to consider efficiency.