As there are many terms to such a large project like Elastos and the Cyber Republic, we’ve decided to build a growing glossary of terms that can help the less technically acquainted understand better what the tech means and the impact it could have.  This week we’re focusing on Hash Rate.

Term: Hash Rate 

“A hash rate is the measure of miner’s performance. In other words, it is the hash function’s output or it is the speed at which a miner solves the code. In the year 2014, the performance of miner was measured in Billions of hashes/s.

“The higher hash rate means increased opportunity for cryptocurrency mining and receiving block reward. The hash/s is the measure of the efficiency of the miner in W/Ghash/s. Hash/s is also measured in J/Ghash (Joules per 1 Billion hashes).

“Hash per second represents SHA-256 algorithms that are used per second, known as hash rate. It is SI derived unit that is symbolized as h/s.”

-Source: https://www.hashgains.com/wiki/h/what-is-hash-rate

Calculating Elastos’ Hash Rate (Originally published on community-run “ELANews”)

Hash rate is the average number of hashes that are required to solve a block.

How to Calculate hash rate?

Expected time to solve block in seconds = 120

Hashmax is just the max 32 byte number or 2^256

Target is the current target, which is calculated from the difficulty as:

As discussed earlier, Targetmax is the highest (hence, easiest) hash that was considered valid in Elastos (the genesis block’s target), and is:

0x000008ff00000000000000000000000000000000000000000000000000000000

Targetmax=0x000008ff00000000000000000000000000000000000000000000000000000000

Which is also equal to:

CurrentDifficulty is the difficulty obtained from the block in the Block explorer. For reference we will obtain from Block #359800

CurrentDifficulty = 941873199780623

Now we can compile the hash rate calculation:

=

Which we calculated using Wolfram and equates to:  14.637 EH/s

Now, let’s compare this value to the BTC hash rate:

At the time of writing, April, 19, 2019, BTC hash rate is equal to 47.492 EH/s

Percentage of BTC hash rate = 30.54%

Thus, at the time of writing, Elastos has secured 30.54% of the total BTC hash rate only 20 days post-launch of merged-mining operations. The numbers speak for themselves; the Elastos blockchain is of the most secure blockchains in the world.

Simplified Formula

Seeing as the above calculation is rather complex, below is a simplified formula which calculates hash rate from the difficulty shown in Elastos Blockchain Browser:

Which can be further simplified to:

Hash rate = CurrentDifficulty x 15540.9

Community member Charles (TG @ccoombs) has also made a calculator that takes inputs “bits” from the Elastos Blockchain Explorer and Bitcoin hash rate. This calculation utilizes bits, whereas the previous works with Difficulty. Both compute the same hash rate as output.

Charles’s Calculator can be used here: https://repl.it/@CC3/Hashrate-calculator

-Source: https://elanews.net/2019/04/20/elastos-mining-difficulty-hashrate/

Layman’s definition: 

It might be a good metaphor to compare horsepower to hash rate, and mining to…running into random drops while driving around in Mario Kart, the video game.  The faster you go, the higher your chances that you’ll get to a drop fastest compared to your competition, but there’s no guarantee that you’ll actually get to the drop fastest because there’s a lot of other factors.  Random luck. Proximity. How many other people are racing. Difficulty of the track. If you were trying to grab a different drop at the same time.

Or driving skills, in my case.

Essentially, the more powerful the machine and the more efficient it can run, the higher the hash rate, and therefore the higher the machine’s chance to mine a block and get rewarded.

To touch back on merged mining, merged mining basically is playing the same Mario Kart video game, but we added Elastos random drops to the game which, really, who would say no to?  It’s not like it costs any more power, and extra tokens? Hell yeah.

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--CR Press Team Lead and Senior Editor-- Ken is a near full-time world traveler with a diverse background–a professional in many fields such as writing, medicine, photography, dance and athletics. He became involved with blockchain in 2016. He founded the CR News and Social Media team along with KP, and he has been blessed with a committed team that matches his own ambitious vision. He hopes to lead this fast-growing team into becoming the most professional source of news and information on the new internet, believing that by giving the Cyber Republic a strong voice, the team can drastically increase the power and reach of the Elastos ecosystem. Article by article, video by video, building a knowledgeable and passionate community is key to the Cyber Republic’s success.

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