Application Specific Integrated Circuit – ASICs are silicon chips designed to do a specific task. They can be found in almost every electronic device, as they are being used for a wide range of applications such as custom rendering of images or sound conversions. ASICs are custom-made and therefore considered proprietary technology of the company that designed them. In the case of bitcoin, ASICs are designed to process SHA-256 hashing problems to mine new bitcoins.

« Back to Glossary Index