This chart shows the history of changes in the total hashrate of the XMR network over various periods of time.
It provides an estimate of how many hashes per second are performed by miners of the XMR.
An increase in the total hashrate of the XMR network can indicate a growing interest from miners due to increased mining profitability or the inclusion of additional power by a major market player.
A decrease in the network's hashrate can occur due to decreased profitability, network failures, or problems at major mining pools.
Hashrate is the performance of mining equipment (ASIC, graphics card, processor). Hashrate is measured in solutions per second.
One solution on the Monero is called Hash, abbreviated as H. Mining performance is measured in H/s (hashes per second) accordingly.
Current network hashrate of Monero : 2.68 GH/s = 2 679 099 426 H/s
Your mining rig, or even a single graphics card, iterates over millions of solutions (hashes) per second.
For example, one Nvidia RTX 3060 graphics card has a hashrate of ~48 MH/s on the Ethash algorithm (ETH, ETHW, ETHF, ETC, UBQ, EXP coins, etc.) It calculates 48,000,000 solutions per second.
The solution is the result obtained after running through one cycle of the miner program. Miners solve a task many times per second (a hash function or just a hash).
Mining is like a game of guessing the correct key, in which miners solve a problem (hash function) and sort through possible block solutions until they find the right one.
After finding the block, the "job" changes, and the world’s miners start looking for another correct key again.
Monero hashrate shows the overall performance of all miners in the Monero Network.
Current network hashrate of Monero: 2.68 GH/s = 2 679 099 426 H/s
The network hashrate is a calculated value. To find the Network hashrate, we need to know the current difficulty of the entire network, the average block time specified by the network, and/or the real-time info about the last blocks.
A change in the overall hashrate of the coin network can tell you when the coin’s mining profitability will grow or when will it fall.
It’s quite sophisticated, but we’ll try to explain it as simply as possible: