Bitcoin hashrate (or hashpower) refers to the collective computing power going into solving Bitcoin block equations. To solve each equation, miners compete to guess a hash — a string of letters and numbers — to access the block and receive a reward. Hashrate measures the number of hash guesses each miner can make per second (you can view Bitcoin’s current hashrate here). For example, if Bitcoin's collective hashrate is currently 200,000,000,000,000,000,000 per second (or 200 EH/s), this means that miners are making two hundred quintillion hash guesses per second in total. Also, the higher the hashrate, the better the Bitcoin network’s security. Higher hashpower makes it more difficult for hackers to exploit the Bitcoin network.