This is something cool!

I tried it.

You Can you explain to me what Hashrate is like I’m 5 years old?

Holocat Alright, imagine you have a big jar of colorful candies and you want to guess how many candies are in the jar. You and your friends all start guessing at the same time. Each guess is like solving a puzzle. The faster you can guess, the better chance you have at getting it right.

Now, think of Bitcoin mining like this candy guessing game. The "hashrate" is how fast everyone can make guesses. So, if you have a super-fast guessing machine, you can make lots of guesses really quickly. In the world of Bitcoin, these guesses help find new blocks, which is like winning a round of the candy game, and you get rewarded with some candies (or Bitcoins, in this case).

So, hashrate is just a fancy way of saying how quickly guesses (or calculations) are being made in the Bitcoin network. More guesses per second mean a higher hashrate!

It even provided sources! Thank you so much for sharing about it.