Welcome to “Crypto Jargon” – the series where we break down the complex crypto terminology. Today’s article features the following acronyms related to crypto mining:
- GPU and CPU
- Mining RIG,
- ASIC
- ASIC Resistant
Let’s start with GPU which is not a strictly crypto term. It is in fact something that every computer has: Graphics Processor Unit. This is a computer hardware that is processing data. The higher a computer’s GPU is, the faster it operates. It can be very useful to have a high GPU processor for those who play video games or mine cryptocurrencies with a regular home PC and in regards to crypto mining, it was one of the most popular methods of mining in the early years of Bitcoin.
CPU stands for Central Processing Unit and is different than a GPU since it coordinates the different components of a computer when it’s in operation. The term Central Processing Unit (CPU) has been widely used in the computer industry since the early 1960s. CPU is often measured in terms of its speed, and the units for such measurement is gigahertz (GHz).
The stronger your computer’s CPU is, the more successful it will be for mining activities.
As I mentioned, early mining was done on home computers with high-end GPUs but as the mining industry grew, a lot of it moved on to Mining Rigs.
A mining rig is basically a machine (computer) that is specifically built for mining cryptocurrencies. It often consists of multiple high-end graphics processors (GPUs) in order to maximize its processing power.
Some mining rigs also use ASICs
ASIC stands for Application-Specific Integrated Circuit
Let’s break down this confusing term: “Integrated Circuit” is a computer chip. “Application-specific” means it was built for one specific purpose or computer application. An ASIC chip is used in cryptocurrencies to help record transactions on a blockchain, the process known as mining. Since mining of cryptocurrency data blocks can demand a lot of computer space and time, some miners set aside entire devices or partition off a section of their computers to do nothing else but mining. ASIC also uses far less power than a standard mining rig.
Most of the ASICs are produced in China. In fact, the biggest producer of ASIC chips is Bitmain, a Chinese company that for a long time was holding almost a complete monopoly on the market.
As the value of Bitcoin went up, ASICs began dominating the mining industry, creating mining pools to make it cost-efficient due to the high equipment expenses, making it impossible for people to mine Bitcoin using their home computers. These ASIC machines were not only dominating the network but also taking all the power from the small miners.
This poses a threat of centralized mining and in retaliation, “ASIC resistance” came into the picture.
ASIC Resistant is used to describe those cryptocurrencies that do not require expensive equipment for mining.
Those miners who prefer using their personal computers for GPU mining are in favour of ASIC-Resistant cryptocurrencies and they are considered to be fairer and more decentralized.
If you liked this article, you will most certainly love my eBook “Crypto Jargon A-Z” – this is the most up-to-date publication of its kind. With over 700 terms, acronyms and trading slang, it contains everything related to cryptocurrencies and blockchain tech – all the complex terminology we use in media articles, blogs, forum chats, social media posts and of course video content too so go check it out on Amazon at one of the following links:
US https://www.amazon.com/dp/B07Y9DT3H6
UK https://www.amazon.co.uk/dp/B07Y9DT3H6
Germany https://www.amazon.de/dp/B07Y9DT3H6
France https://www.amazon.fr/dp/B07Y9DT3H6
Spain https://www.amazon.es/dp/B07Y9DT3H6
Italy https://www.amazon.it/dp/B07Y9DT3H6
Netherlands https://www.amazon.nl/dp/B07Y9DT3H6
Japan https://www.amazon.co.jp/dp/B07Y9DT3H6
Brazil https://www.amazon.com.br/dp/B07Y9DT3H6
Canada https://www.amazon.ca/dp/B07Y9DT3H6
Mexico https://www.amazon.com.mx/dp/B07Y9DT3H6
Australia https://www.amazon.com.au/dp/B07Y9DT3H6
Asia-Pacific https://www.amazon.in/dp/B07Y9DT3H6
=== ===
🏆Exchanges I use for trading crypto:
►Binance
►Kucoin
►Bittrex
►Bitfinex
=== ===
Where I buy crypto:
►BitPanda (Europe)
►Changelly (good for instant coins swaps)(Global)
►Payeer (Europe, Asia, alternative to paypal)
►Bitfinex
►Coinbase (USA, EU, Africa) Get $10 worth of Bitcoin on your first $100 crypto purchase with this link: http://bit.do/coinbase_join
=== ===
Where I store my crypto:
- Ledger Nano – the best hardware wallet (offline storage)
- Trezor – also one of the best wallets out there.
- Exodus – desktop wallet
- Coinomi – mobile phone wallet with instant coin swap feature
- Crypto.com – mobile wallet and exchange
Crypto-Corner 
Hi there! I just desire to give an enormous thumbs up for the good data you have got right here on this post. I’ve bookmarked your site and shall be coming again to your site for more soon. If you have a opportunity check out my web site It’s brand new, but let’s hope some day it will be as educational as yours
LikeLike
I was actually amazed to find this web site. Thank you for creating this wonderful read!! I definitely enjoyed your content, have bookmarked it and will be looking for future posts. If you have a chance check out my web site. It’s a work in progress, but I hope that someday it will turn out as renowned as yours. kelly kosky
LikeLike
You ‘re so creative! I don’t imagine I’ve read anything like this before. So persuading to find somebody with some original sentiments on this subject. I enjoy reading a post that will make people think. Also, thanks for permiting me to comment!. If you have a opportunity check out my website. It’s a work in progress, but I assume that someday it will have nearly as good of subject matter as yours. kelly kosky
LikeLike
Real great web site, this really responded some of my questions. Thank you!. If you have a chance check out my web site. It’s a work in progress, but I assume that someday it will have nearly as good of substance as yours.
LikeLike
You should take part in a competition for one of the most interesting blog sites on the web. I would back your blog!. I ‘m interested in your posts, and have bookmarked the website so that I can check back for future updates. If you have a second check out my web site. It’s a work in progress, but i foresee that someday it will have nearly as good of subject matter as yours kelly kosky
LikeLike
Hi there! I just need to give an abundant thumbs up for the favorable data you have got right here on this post. I’ve bookmarked your blog and will probably be coming again to your site for more soon. If you have a chance check out my website It’s brand new, but lets hope some day it will be as educational as yours kelly kosky
LikeLike
You must take part in a contest for one of the best blog sites on the web. I would back your blog!. I ‘m interested in your posts, and have bookmarked the website so that I can check back for future updates. If you have a second check out my site. It’s a work in progress, but i believe that someday it will have nearly as good of content as yours kelly kosky
LikeLike
whoah this weblog is fantastic i love studying your posts. Keep up the great work! You understand, lots of people are hunting round for this info, you could help them greatly.
LikeLike
wonderful post, very informative. I wonder why the other experts of this sector don’t notice this. You should continue your writing. I am confident, you’ve a huge readers’ base already!
LikeLike
I loved as much as you will receive carried out right here. The sketch is tasteful, your authored material stylish. nonetheless, you command get got an impatience over that you wish be delivering the following. unwell unquestionably come further formerly again as exactly the same nearly very often inside case you shield this increase.
LikeLike
Thanks for a marvelous posting! I quite enjoyed reading it, you will be a great author.I will make certain to bookmark your blog and will often come back later on. I want to encourage continue your great job, have a nice morning!
LikeLike
Hi there, I found your web site via Google whilst searching for a related matter, your web site came up, it appears great. I’ve bookmarked it in my google bookmarks. You can try Bitcoin mining for free. Try CryptoTab: https://inorangepie.biz/16590141
LikeLike
What a great post. Thank you for sharing this! I’m going to send it to all my friends.
LikeLike