FxWirePro: Blockchain glossary for beginners- Cryptocurrency Mining Terms

Hash Rate– It is a measure of the total speed at which a computer can process transactions in a blockchain.  It helps in assessing the strength of blockchain.  A Higher Hash rate indicates that network security is good as several miners are verifying transactions.

Ethereum network hash rate for Jul 25th, 2022- 917.41TH/s

Bitcoin network hash rate for Jul 25th, 2022- 195.48 TH/s

2. GPU– Graphic processing units are electronic circuits that help to compute a large number of calculations in a very short time. A standard GPU like Radeon HD 5970 was 800 times faster than the speed of the CPU.

3..Application-Specific Integrated Circuit (ASIC) – It is specially designed hardware for purpose of cryptocurrency mining