An Application-Specific Integrated Circuit (ASIC) is a type of hardware designed specifically to perform a particular task or set of tasks. In the mining process, ASICs are optimized to solve complex mathematical problems associated with blockchain transactions.These circuits are particularly effective for mining because they offer higher efficiency and performance compared to general-purpose hardware like CPUs or GPUs. This efficiency translates to higher hash rates, meaning they can perform more calculations per second, which is crucial for successfully mining blocks and earning rewards.The adaptation of ASICs has led to increased competition in mining activities. Miners using these specialized devices generally have a significant advantage over those relying on standard hardware. As a result, the landscape of mining has shifted, with many choosing to invest in ASICs to secure profitability and remain competitive.However, the rise of ASIC mining can lead to centralization, as only those who can afford these expensive devices may dominate mining operations. This has raised concerns about the fairness and accessibility of mining across various networks.
UK’s FCA to Allow Retail Investors Limited Access to Crypto ETNs
The UK’s Financial Conduct Authority (FCA) will permit retail investors to access certain crypto asset-backed exchange-traded notes (cETNs) for the