Ultimate Crypto Resource Guide
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cRYPTO Glossary
Explore essential terms and concepts in the world of cryptocurrency, blockchain, and trading
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ASIC-Resistant
ASIC-Resistant refers to blockchains and mining algorithms designed to provide no significant advantage for ASICs (Application-Specific Integrated Circuits) over consumer-grade hardware.
Explanation of Specific Terms:
- ASIC (Application-Specific Integrated Circuit): A specialized hardware device designed for a specific task, such as mining cryptocurrencies.
- Blockchains: Distributed digital ledgers that record transactions across multiple computers in a secure and transparent manner.
- Mining algorithms: Mathematical protocols used to validate transactions and add new blocks to the blockchain, often involving complex computations.
Key Points for Beginners:
- Why it's important: ASIC-resistant algorithms aim to promote decentralization by ensuring that mining rewards are accessible to a wider range of participants using standard consumer hardware, rather than being dominated by specialized ASIC miners.
- How it works: These algorithms are typically designed to require more memory or computational resources that are not efficiently handled by ASICs, leveling the playing field between ASIC miners and regular users with CPUs or GPUs (Graphics Processing Units).
Valdis Zhvaginsh
Crypto Enthusiast, CWT Editor
Hello, I'm Valdis
When I began exploring cryptocurrencies, I had many questions. Over time, I've gathered some of the best resources that helped me, and I believe they can be useful to you as well.
I hope these resources assist you in starting your journey into the world of cryptocurrencies and provide useful tools for everyday tasks.
If you have any suggestions or corrections, please contact me
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