What is a hash rate?

Bitcoin miners are much like the Ringo Starr of the crypto market. Quite literally hidden in the background or network in our example, miners aren’t usually at the forefront of any discussions or articles you may have read about Bitcoin. But without Ringo, the songs you know and love from the Beatles would cease to exist in the way you remember them and without Bitcoin miners, the blockchain network would lose its security, opening it up to fraud and cyber attacks.

Part of what creates this level of security is the hash rate. The hash rate is the amount of computing power used by miners in the generation of new bitcoins and verification of new transactions on the Bitcoin network. The higher the hash rate, the more secure the network, making it a more difficult target for a group of hackers to potentially gain control of it.