Present participle of 'hazard'; the act of risking, exposing to danger, or making a risky attempt at something.
From 'hazard' plus the gerund/present participle suffix '-ing,' forming a verbal noun or continuous action verb form.
The '-ing' form of verbs lets us talk about actions as ongoing processes rather than completed events—'hazarding a guess' feels more tentative than 'hazarded a guess,' capturing uncertainty perfectly.
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