ASIC Resistant
By CoinGecko | Updated on Mar 03, 2020
Typically used within the crypto world to describe the proof-of-work protocols that aim to prevent the use of ASICs for mining. Typically, this is achieved by making certain adjustments such that a ASIC will not have any competitive advantage over consumer hardware, or through inclusion of many various algorithm that makes it difficult for ASICs to have an edge against regular hardware.
The aim of ASIC resistant algorithms are usually to avoid the centralization of mining in that typically happens as ASIC machines.
Related Terms
Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
Ticker
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Satoshi
A unit measure for the smallest divisible unit of a bitcoin. 1 bitcoin is equal to 100 Million Satoshi.
Off-chain
It refers to transactions occuring outside the blockchain and executed instantly.
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