The hash rate in the context of cryptocurrencies refers to the speed at which a computer is completing an operation in the blockchain’s code. It is typically measured in hashes per second and is an important performance metric for miners. A higher hash rate means more computational power is being contributed to the network, increasing the chances of solving the cryptographic puzzle to add a new block to the blockchain and earning the associated mining rewards.
The overall hash rate of a blockchain network is a key indicator of its security and resilience against attacks, as a higher hash rate makes it more difficult for a single entity to gain control over the majority of the network’s hashing power (51% attack).