In modern parlance, we are now all ‘connected’, not just via cell phones and iPads, but increasingly even through previously ‘dumb’ devices like domestic appliances. Some countries have even now taken the view that internet connectivity is a basic public service, like water or electricity.
At their core, all these data transmitting devices rely on silicon semiconductor chips there are so small that their individual components can only be seen with the aid of a microscope. When programmed correctly, these circuits can hold a convincing conversation with a human, write a screenplay, or pass the Turing Test. They may not be alive and self-aware, but they are becoming so sophisticated that they can sometimes fool us into thinking that they are.
When designed to tackle a specific problem, like ASIC mining, these incredible examples of technology are known as Application Specific Integrated Circuits or ASICs, and they can fulfill their purpose much more efficiently and effectively than chips that have been designed to perform multiple tasks.
Mining Bitcoin using ASIC
ASIC miners are tailor-made devices whose sole purpose is to create Bitcoin. All they need is a stable power supply and enough cooling to keep their operating temperatures within safe limits, and they can be let loose on earning Bitcoin by solving the fiendishly complicated SHA-256 hashing algorithms that underpin the blockchain.
ASIC mining systems are pricy pieces of kit that are often more than the hobbyist Bitcoin miner can afford. Jerry-rigged PCs with overclocked processors used to be all you needed to claim a share of the cryptocurrency being produced, but ASIC rigs mean that they can no longer compete efficiently. These systems can tear through Proof-of-Work (PoW) calculations and earn Bitcoin for their owners at a lower cost than any off-the-shelf system can hope to, which has effectively ruled them out of the game.
That’s why we employ ASICs, to make mining financially viable. We’re a leading cryptocurrency ASIC mining service, offering convenient and cost-effective solutions, so feel free to get in touch if you’d like to learn how we can help you be crypto miner.