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Welcome to 123Miners

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Bitcoin (BTC) hash rate: What is it and why is it important?

Bitcoin (BTC) hash rate: What is it and why is it important?

Bitcoin (BTC) is a payment network on which payments can be made without needing a middleman. Peer-to-peer payments are made digitally in a way that can be compared to making a payment with physical cash; it cannot be reversed just like you cannot take back a €5 bill after you have paid for something. An important part of this process are the bitcoin miners. When you read about miners, you most likely also read about this thing called “hash rate.” In this blog article, we will explain what the hash rate is and why it is so important for Bitcoin.