1 MH/s (one mega hash) is 1,000,000 (one million) hashes per second.1 kH/s* (one kilo hash) is 1,000 (one thousand) hashes per second.These are the hash rates you will see being talked about in the context of cryptocurrency mining. That number is so big we need to talk megas, gigas and teras. This kind of bulky mathematical work can be done by a GPU much better and in a much higher volume than the computer’s CPU (central processing unit). The work it does is very repetitive and deals with a high volume of information. When Bitcoin first arrived it was possible to mine using a standard home computer or, more specifically, the computer’s GPU (graphics processing unit).Ī GPU is a part of the video rendering system. The computational difficulty of mining is too high. These days it’s impossible to mine Bitcoin using a standard desktop computer. In the context of cryptocurrency mining, a hash is one computation or “guess” at solving a block. They are secure and are widely used in information security applications involving authentication, digital signatures and message authentication codes. Hash functions are used in many parts of cryptography to map data of differing sizes to data of a fixed size.Ĭryptographic hash functions are ideal for processing cryptocurrency transactions. The more answers suggested over the shortest period of time will increase the chances of solving that block.Ī hash function in computer processing is a function that compresses information, meaning the output is generally shorter than the input. To be successful at mining, speed is of the essence since the miner is trying to solve a question, add a block the the chain and reap the rewards before anyone else. Hash rate (sometimes called the hash power) is the speed at which a cryptocurrency mining device operates.
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