In the language of cryptocurrency mining, the word hash rate refers to the speed of the equipment which is being deployed to mine a particular cryptocurrency. The better the hash rate the better would be the possibility of attaining of next block thereby getting it converted to a reward. Now it is application specific integrated circuits which are being deployed to mine the cryptocurrency.
For all the cryptocurrencies which could be mined; application specific integrated circuits or ASICs as they are commonly known as are a de facto standard. These application specific integrated circuits are put to use because they have got greater hashing power. They are able to produce greater hashing power because of the reason that they are specifically manufactured and modified to suit the Monero mining algorithm which underlies a particular cryptocurrency and in this case of Monero cryptocurrency they produce that much hashing speed which is required to comfortably mine the Monero cryptocurrency. If a machine produces greater mining power the possibility of finding the next block increments. This increment in the possibility of finding the next block produces the way to the blockchain which ultimately results in the process of finding the tokens of that particular cryptocurrency.
Monero cryptocurrency is unique in the regard that it offers additional features of maintaining the privacy of the transactions. It has got ring structures which hide the identity of the sender as well as the receiver and mixes it with the whole of ecosystem prevalent on the in blockchain of the Monero cryptocurrency. Additional features such as stealth signatures are an added advantage because by using this feature a sender may at his will; if he wants to, open up his account to the public so that they may verify in case he wants to give access to the people.
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