avatar
4 years

Crypto mining with ASIC

Hello. What is an ASIC? I know it's used in crypto mining, but could someone elaborate more on this topic? Greetings.

Hello. What is an ASIC? I know it's used in crypto mining, but could someone elaborate more on this topic? Greetings.

8 users upvote it!

6 answers


Dawid Wośniowski

Application Specific Integrated Circuit (ASIC), is a chip designed to perform one predefined task.


It has the highest computing power of all the systems, unquestionable efficiency in performing the task entrusted to it. These are unquestionable advantages of ASICs, but what is the biggest advantage is also the biggest disadvantage. Undoubtedly, the disadvantage of such systems should be considered the lack of possibility to use them for other tasks than just the programmed function. ASICs are the most risky form of computing power, this is due to the very dynamic development of newer generations of devices characterized by increasing computing power.

The characteristic feature of ASICs is also high volume of the device and high demand for electricity. The technology for the production of ASICs is very advanced and only a few manufacturers in the world have access to it, who control the production of ASICs. The best known ASIC manufacturer is the Chinese Bitmain, the creator of Antminer series for bitcoin extraction. ASIC, apart from bitcoin, supplies with computing power such currencies as litecoin, zcash, dash, bitcoin cash. To become an ASIC miner you need to purchase a specialized device. The cost of such a device is 500-2000 dollars.

Application Specific Integrated Circuit (ASIC), is a chip designed to perform one predefined task.


It has the highest computing power of all the systems, unquestionable efficiency in performing the task entrusted to it. These are unquestionable advantages of ASICs, but what is the biggest advantage is also the biggest disadvantage. Undoubtedly, the disadvantage of such systems should be considered the lack of possibility to use them for other tasks than just the programmed function. ASICs are the most risky form of computing power, this is due to the very dynamic development of newer generations of devices characterized by increasing computing power.

The characteristic feature of ASICs is also high volume of the device and high demand for electricity. The technology for the production of ASICs is very advanced and only a few manufacturers in the world have access to it, who control the production of ASICs. The best known ASIC manufacturer is the Chinese Bitmain, the creator of Antminer series for bitcoin extraction. ASIC, apart from bitcoin, supplies with computing power such currencies as litecoin, zcash, dash, bitcoin cash. To become an ASIC miner you need to purchase a specialized device. The cost of such a device is 500-2000 dollars.


dryer923

An ASIC is a specific type of electronic integrated circuit, which is designed and manufactured to perform a predefined task. ASICs, by building them from scratch for a given electronic system, can replace a whole plethora of additional general purpose circuits performing the same function. 

An ASIC is a specific type of electronic integrated circuit, which is designed and manufactured to perform a predefined task. ASICs, by building them from scratch for a given electronic system, can replace a whole plethora of additional general purpose circuits performing the same function. 


galaxy20

ASIC (application-specific integrated circuit). As the name suggests, ASICs are integrated circuits that are designed to serve a specific case, as opposed to general purpose circuits such as processors powering our computers and mobile devices.

In some circumstances, there are simple computational tasks that do not require the financial and computational effort that a general purpose processor would bring to the table. Instead, an ASIC can be used as a much simpler and more efficient alternative (both in terms of cost and energy).

In the crypto world, the term ASIC is widely used for specialist equipment that is developed and regularly improved by companies such as Bitmain and Halong Mining. This equipment is designed exclusively for crypto mining. There are coins that cannot be effectively extracted by ASIC miners, and as such can be referred to as ASIC resistant cryptocurrencies.

In short, mining is a process that involves performing countless mixing functions until the correct mixing result is generated. A miner who finds the correct acronym uses it as proof of his work, which gives him the right to check the next block of the transaction and claim the reward for the block.

Although ASICs can be very efficient, the limitation to a specific case of use makes them completely useless to do anything else. What's more, the continuous technological progress in the crypto space introduces new ASIC models that quickly make older projects completely unprofitable.

ASIC (application-specific integrated circuit). As the name suggests, ASICs are integrated circuits that are designed to serve a specific case, as opposed to general purpose circuits such as processors powering our computers and mobile devices.

In some circumstances, there are simple computational tasks that do not require the financial and computational effort that a general purpose processor would bring to the table. Instead, an ASIC can be used as a much simpler and more efficient alternative (both in terms of cost and energy).

In the crypto world, the term ASIC is widely used for specialist equipment that is developed and regularly improved by companies such as Bitmain and Halong Mining. This equipment is designed exclusively for crypto mining. There are coins that cannot be effectively extracted by ASIC miners, and as such can be referred to as ASIC resistant cryptocurrencies.

In short, mining is a process that involves performing countless mixing functions until the correct mixing result is generated. A miner who finds the correct acronym uses it as proof of his work, which gives him the right to check the next block of the transaction and claim the reward for the block.

Although ASICs can be very efficient, the limitation to a specific case of use makes them completely useless to do anything else. What's more, the continuous technological progress in the crypto space introduces new ASIC models that quickly make older projects completely unprofitable.


leomessi

An ASIC (Application Specific Integrated Circuit), is a chip designed to perform one predetermined task.

It has the highest computational power of all available circuits and unquestionable performance when performing its task. These are unquestionable advantages of ASIC, however, what is the biggest advantage is also the biggest disadvantage. Undoubtedly, the disadvantage of such circuits is that they cannot be used for tasks other than the programmed function. ASICs are the most risky form of computing power, this is due to the very dynamic development of newer generations of devices characterised by higher and higher computing power.

ASICs are also characterised by high volume of the device and high demand for electric power. The technology to produce ASICs is very advanced and only a few manufacturers in the world have access to it. The best recognised ASIC manufacturer is China's Bitmain, maker of the Antminer series for bitcoin mining. In addition to bitcoin, ASIC supplies processing power to currencies such as litecoin, zcash, dash, bitcoin cash,. To become an ASIC miner you need to purchase a specialised device. The cost of such a device is even couple thousand USD.

An ASIC (Application Specific Integrated Circuit), is a chip designed to perform one predetermined task.

It has the highest computational power of all available circuits and unquestionable performance when performing its task. These are unquestionable advantages of ASIC, however, what is the biggest advantage is also the biggest disadvantage. Undoubtedly, the disadvantage of such circuits is that they cannot be used for tasks other than the programmed function. ASICs are the most risky form of computing power, this is due to the very dynamic development of newer generations of devices characterised by higher and higher computing power.

ASICs are also characterised by high volume of the device and high demand for electric power. The technology to produce ASICs is very advanced and only a few manufacturers in the world have access to it. The best recognised ASIC manufacturer is China's Bitmain, maker of the Antminer series for bitcoin mining. In addition to bitcoin, ASIC supplies processing power to currencies such as litecoin, zcash, dash, bitcoin cash,. To become an ASIC miner you need to purchase a specialised device. The cost of such a device is even couple thousand USD.


dryer923

The market seems to be quite hot. If you are considering a mortgage, take into account the steadily rising inflation which is likely to cause interest rates to rise further. You should consider a fixed-rate loan. If the inflation won’t stop rising, then housing prices will continue to rise in nominal terms (value might be the same, but price in currency will be the same) - if you have cash set aside, you do not have additional investments, and you want to buy an apartment for yourself, it’s a good moment. If you want to invest in an apartment, this is not an ideal moment in my opinion.

The market seems to be quite hot. If you are considering a mortgage, take into account the steadily rising inflation which is likely to cause interest rates to rise further. You should consider a fixed-rate loan. If the inflation won’t stop rising, then housing prices will continue to rise in nominal terms (value might be the same, but price in currency will be the same) - if you have cash set aside, you do not have additional investments, and you want to buy an apartment for yourself, it’s a good moment. If you want to invest in an apartment, this is not an ideal moment in my opinion.


OpenAI BOT

An Application-Specific Integrated Circuit (ASIC) is a specialized hardware device that is designed for a specific task, such as crypto mining. ASICs are created to perform certain computations much more efficiently than general-purpose hardware, like CPUs or GPUs. In the case of crypto mining, ASICs are used to solve complex mathematical problems to validate transactions and create new blocks on a blockchain. This process is known as "mining" and ASICs are specifically optimized for this task, making them much faster and more energy-efficient than other types of hardware. ASICs have become very popular in the world of crypto mining due to their high performance and profitability. However, they are also quite expensive and can quickly become obsolete as new and more efficient models are released. Despite these drawbacks, many miners still opt to use ASICs for their speed and efficiency in generating cryptocurrency rewards. Overall, ASICs have revolutionized the way crypto mining is conducted, making it a more streamlined and profitable process for those who have access to this specialized hardware. Greetings to you as well!

An Application-Specific Integrated Circuit (ASIC) is a specialized hardware device that is designed for a specific task, such as crypto mining. ASICs are created to perform certain computations much more efficiently than general-purpose hardware, like CPUs or GPUs. In the case of crypto mining, ASICs are used to solve complex mathematical problems to validate transactions and create new blocks on a blockchain. This process is known as "mining" and ASICs are specifically optimized for this task, making them much faster and more energy-efficient than other types of hardware. ASICs have become very popular in the world of crypto mining due to their high performance and profitability. However, they are also quite expensive and can quickly become obsolete as new and more efficient models are released. Despite these drawbacks, many miners still opt to use ASICs for their speed and efficiency in generating cryptocurrency rewards. Overall, ASICs have revolutionized the way crypto mining is conducted, making it a more streamlined and profitable process for those who have access to this specialized hardware. Greetings to you as well!


6/6