ASIC
DEFINITION
This is an abbreviation for “Application Specific Integrated Circuits”. This refers to chips which are specialized in just one function. When ASIC is used in conjunction with the BlockChain technology, they are created mainly for the purpose of mining.
Therefore, they allow mining to be done on a higher level but with less energy consumed. This would lead to trading and mining being more efficient.
ASSOCIATED WORDS: Mining, cryptocurrency
Advantages
• It helps in the mining process
• It uses less energy during the mining process
TRIVIA: did you know that ASIC can be made or customized for just one particular product?
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