Mining Lab · Coinovo Academy · Hashrate
How much guessing goes on
The hashrate is the number of guessing attempts per second. It measures neither speed in the everyday sense nor earnings, but simply how often the dice are rolled.
TH/s means trillions of attempts a second, the order of magnitude of a single machine. PH/s is a thousand times more, EH/s a million times more. The whole network is measured in EH/s.
TH to PH to EH, each step a thousandfold.
The higher the hashrate, the more expensive an attack. Anyone who wanted to rewrite history would have to muster more computing power than all honest miners together, and not once but continuously.
Your yield is your share of the total hashrate times what the network pays out in a day. It is not your absolute performance that counts, but your share of the whole.
Share = own hashrate divided by network hashrate.
Your yield is not your performance but your performance divided by everyone's, times whatever is being handed out. That one formula explains mining, pools, staking rewards and the farm in this app equally.
It has an awkward property: the denominator is not in your hands. You can double your performance and still earn less than before if the denominator tripled in the same time.
Work it through once. You have 500 TH/s, the network 1,000 EH/s, which is a billion TH/s. Your share is one two-millionth. At 450 bitcoin a day that is 0.000225 bitcoin. Double to 1,000 TH/s while the network grows to 1,400 EH/s and you have 0.000321 instead of the hoped-for 0.00045.
Nobody counts the guessing attempts. There is no counter adding them up, and there could not be: they happen inside millions of chips and leave no trace.
The calculation runs backwards. We know how hard a hit is, and we see how many hits fell in a period. From that follows how much computing must have happened.
Because hits fall at random, that estimate swings. Averaged over a day it is easily ten percent out, over a week much less. So when you read a report about a "hashrate crash", the first thing to check is what period it was averaged over.
If others plug in new machines, the network hashrate grows. Your share shrinks even though your machine runs unchanged. That is not a fault, it is the normal case.
Nobody counts the attempts. The published hashrate is an estimate from the number of blocks found and the difficulty. That is why it swings sharply in the short term even when nothing really changes.
Tasks, shifts and the daily hunt, plus an account that shows what has added up.
Opens straight away. No account, nothing to install.