Some guy has pumped up his hashrate from 20ghs to 40ghs on poolto. This is almost the whole network hashrate.
So for my understanding,what is the advantage of having a very high hashrate for the coin? Just faster transactions?
What kurbeks said.
But the higher hashrate also is a good insurance against 51% attacks and selfish mining (you now need 40 Antminers or more to attack TIPS with a slight chance of success). Makes the chain more secure and respected.
Though transactions do not get faster in any way at all by higher hashrate, the block time should always be around 1minute and we have max. 1MB blocks, though most pools/miners use the default of 250kB max blocksize.