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
Protocol
The set of rules in a network in which participating members comply to allow proper communication.
Fear of Missing Out (FOMO)
Refers to the feeling of apprehension for missing out on a potentially profitable investment opportunity and regretting it later.
Generally an expression describing investors' fear of missing out the good timing of buying cryptocurrencies that could eventually be profitable
Mainnet
It is the main network of Bitcoin, where the transactions of this cryptocurrency are registered and take place.
Market Maker
Participant of the market who creates buy and orders
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