While the Ethereum community is getting prepared for The Merge and the protocol’s transition to a full proof-of-stake (PoS) system, the network’s hashrate reached an all-time high (ATH) on April 7, 2022. On Thursday, Ethereum’s hashrate reached a high of 1.131 petahash per second (PH/s), jumping 13% in 89 days.

What is hashrate? How is it measured?

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. The more answers suggested over the shortest period of time will increase the chances of solving that block.

Hash rate (sometimes called the hash power) is the speed at which a cryptocurrency mining device operates.

Hashrate reflects the performance of mining hardware. It is measured in solutions per second. A solution in the Ethereum network is called a hash, or simply h. Mining performance is measured in h/s (hashes per second).

What is network hashrate? How is it calculated?

Ethereum network hashrate reflects the overall performance of all miners in the eth network. Currently, Ethereum network hashrate is 897.49 TH/s = 897 493 774 899 542 h/s.
Network hashrate is calculated using the current network difficulty, the average block find time set by the cryptocurrency network and/or the effective block find time of the latest blocks. Network Difficulty and Hashrate Explained.

What is the cryptographic hash function?

A hash function in computer processing is a function that compresses information, meaning the output is generally shorter than the input. Hash functions are used in many parts of cryptography to map data of differing sizes to data of a fixed size.

Cryptographic hash functions are ideal for processing cryptocurrency transactions. They are secure and are widely used in information security applications involving authentication, digital signatures and message authentication codes. In the context of cryptocurrency mining, a hash is one computation or “guess” at solving a block. The hash rate can increase or decrease.

What is a solution? My GPU hashrate.

Your GPU or mining rig is calculating thousands, millions of hashes (solutions) per second. For example, one Nvidia 1070 Ti graphics card has a hashrate of 31 MH/s, according to the 2CryptoCalc mining profitability calculator. It means that it is calculating 31 000 000 solutions per second. In other words, it is solving a hash function 31 million times per second.
A solution is a result gained after one cycle of mining software operation. Miners solve a hash function set by a cryptocurrency algorithm multiple times in a second. This is what one solution of a hash function, or a hash, means. Mining itself is a guessing game. Miners are solving the hash function and searching for a potential block solution until they find the right one. Once it is found, the problem is changed, and miners all over the world start searching for another solution. What Is Mining?

Ethereum’s Hashrate Climbs 13% Higher Since the First Week of January 2022

The Ethereum blockchain is expected to transition into a full proof-of-stake (PoS) network in 2022 via The Merge. It’s unclear how smoothly that transition will go and for now, ethereum (ETH) miners are minting blocks as fast as they can.

The three-month hashrate chart via coinwarz.com shows that Ethereum’s hashrate captured a high of 1.131 petahash per second (PH/s) on April 7, 2022. On January 9, 2022, Ethereum’s network hashrate rose above the 1.032 PH/s zone. This means over two months, after reaching a single petahash, the network has seen a 13% increase in hashpower.

Ethereum’s hashrate has grown exponentially since March 21, 2016. On that day, the hashrate was roughly 1.51 terahash per second (TH/s) or 1,510,000,000,000 hashes per second (H/s). Today’s Ethereum hashrate at 1.131 PH/s, or 1,131,000,000,000,000 H/s, is 74,800% higher than it was six years ago.

Ethereum’s daily mining rewards

In recent times, Ethereum’s daily mining rewards have outpaced Bitcoin’s 24-hour mining rewards as well. On April 9, 2022, Ethereum’s daily mining revenue of $88.8 million is 16% more than Bitcoin’s $76.4 million in daily rewards.

Ethermine.org Commands Top Pool Position, Innosilicon’s A11 Is Top Ether Mining Rig

On Saturday morning (ET), the mining pool Ethermine.org is the network’s top mining operation with 281.29 TH/s of hashpower. F2pool is the second-largest ethereum (ETH) mining pool with 146.15 TH/s, and is followed by Poolin’s hashrate of 114.33 TH/s.

The top three ethereum mining pools are followed by Hiveon, 2miners, Flexpool, Antpool, Nanopool, Mining Pool Hub, and Ezil, respectively. The top ether mining operation Ethermine.org commands 24.87% of the network’s hashrate, capturing 290 blocks of the last 1,000 ETH blocks found.

The top mining rig this weekend in terms of profit is the Innosilicon A11 Pro ETH miner with 1,500 megahash per second (MH/s), or 1.5 gigahash per second (GH/s). The A11 Pro, using current ether exchange rates and $0.12 per kilowatt-hour of electricity, will produce $69.32 per day in profits. Meanwhile, the Innosilicon A10 Pro+ ETH miner with 750 MH/s can get around $34.15 per day in ether profits.

Rumor has it that Bitmain will launch an Antminer called the E9 with 3 GH/s in power. However, E9 rumors have been discussed for a long time and the alleged machine has not seen the light of day. If it were to exist, the 3 GH/s of eth hashpower would produce $144.81 per day in profits

Source : coinrivet news.bitcoin 2miners

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