Phoenix.Template.hash

You're seeing just the function hash, go back to Phoenix.Template module for more information.
Link to this function

hash(root, pattern \\ "*", engines \\ engines())

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Specs

hash(root(), pattern :: String.t(), %{required(atom()) => module()}) :: binary()

Returns the hash of all template paths in the given root.

Used by Phoenix to check if a given root path requires recompilation.