Standard cryptocurrency terms

List of standard cryptocurrency terms with explanations.

ASIC
An application-specific integrated circuit (abbreviated as ASIC) is an integrated circuit (IC) customized for a particular use, rather than intended for general-purpose use. They are much more efficient at mining than CPUs and GPUs, and as such most large-scale Bitcoin mining is done on ASIC platforms. Ethereum has resisted the use of ASICs in its mining in order to keep GPU-based mining profitable.