ASIC

An ASIC, which stands for Application-Specific Integrated Circuit, is an integrated circuit designed to perform a single specific function, rather than generic tasks like an ordinary processor.

In the crypto-asset sector, ASICs are primarily used for mining in networks that use Proof-of-Work, such as Bitcoin. As they are optimised for a single algorithm, they offer high performance for that function but cannot be reused for other purposes.

Disclaimer: This entry is for information purposes only and does not constitute investment advice, a recommendation or a solicitation to invest.