ASIC
Specialized hardware built to perform one algorithm extremely efficiently, commonly used in proof-of-work mining.
- Also known as
- Application Specific Integrated Circuit
An Application Specific Integrated Circuit (ASIC) is a chip designed for a narrow task rather than general computing. In cryptocurrency mining, ASICs calculate a proof-of-work hash function far more efficiently than CPUs or GPUs.
ASICs are predominantly used for cryptocurrencies with stable mining algorithms. They can make a network more expensive to attack by increasing total hash rate, but they also raise the capital and supply-chain requirements for miners.
ASICs are debated because they improve efficiency but can concentrate mining among operators with access to cheap power, specialized hardware, and reliable manufacturers. Some networks change algorithms to resist ASICs, though long-term resistance is difficult if rewards justify custom hardware.
Related terms
3 linkedExplore connected entries beyond the alphabetical index.
Mining
→The process by which new coins or tokens are minted and transactions are confirmed on a blockchain through computational work.
Hash rate
→The number of proof-of-work hash attempts performed per second by mining hardware or an entire network.
Proof of Work (PoW)
→A consensus algorithm where computing power is used to solve complex problems, verify transactions, and create new blocks.
All terms and definitions may update as the Cryptionary improves.
