Application-Specific Integrated Circuit (ASIC)

A computer chip specifically designed to do one task, as opposed to general-purpose hardware such as CPUs. For example, Bitcoin ASIC Miners are designed to be more efficient in Mining Bitcoin than standard laptops or desktop computers. ASICs are one of three main types of hardware that can be used for Mining Cryptocurrency, alongside CPUs and GPUs, and are generally the most efficient type due to greater computing capacity and reduced electricity consumption, which results in a higher chance of earning rewards and lower operating costs.