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
Utility Token
cryptocurrency tokens with specific utilities on a network besides being used as medium of exchange and investment vehicle.
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Crowdsale
This type of auction has a fixed price per token that is sold on a first-come-first-serve basis.
Testnet
Shorthand for "Test Network", testnets are staging areas for experimenting new blockchain features.
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