"Hashrate" is Currency-Specific

November 3rd, 2017
bitcoin
Sometimes people will compare Bitcoin and Ethereum by saying things like:

BTC uses 11 exahash/second, while ETH uses just a millionth of that at 10 terahash/second.

In cryptocurrency "hashrate" means "how many nonces can you try in a second", but this depends dramatically on how much work it is to try a nonce. With Bitcoin you hash a small amount of data while the developers of Ethereum intentionally chose to require much larger inputs. The Ethereum white paper describes this as:

The Bitcoin mining algorithm works by having miners compute SHA256 on slightly modified versions of the block header millions of times over and over again, until eventually one node comes up with a version whose hash is less than the target. ... The current intent at Ethereum is to use a mining algorithm where miners are required to fetch random data from the state, compute some randomly selected transactions from the last N blocks in the blockchain, and return the hash of the result. [See Ethash.]
Any coin that becomes worth a lot will lead to special-purpose hardware (ASICs) for mining it unless it's specifically designed, like Ethereum, not to be amenable to that. So BTC is mined mostly on Bitcoin ASICs, LTC on Litecoin ASICs, DASH on Dash ASICs, etc. So people will often speak of hashrate as if it's a property of the device. In these cases it's just that there's usually just one coin that the device is well suited to mine.

Comment via: google plus, facebook, substack

Recent posts on blogs I like:

Inkhaven Blog Recommendations

I was recently a contributing writer at the blogging retreat Inkhaven.

via Thing of Things December 12, 2025

How to Make a Christmas Wreath

Yesterday, I made a Christmas wreath. Here's how to make one. First, find an evergreen tree near your house. Clip off a few branches from the tree. Try to have as many leaves or needles on the branches as possible. Next, bring them home. What I usu…

via Anna Wise's Blog Posts December 6, 2025

Against the Teapot Hold in Contra Dancing

The teapot hold is the most dangerous common contra dancing figure, so I’ve been avoiding it. The teapot hold, sometimes called a "courtesy turn hold,” requires one dancer to connect with their hand behind their back. When I realized I could avoid put…

via Emma Azelborn August 25, 2025

more     (via openring)