But what is an ASIC miner and how mining is done via its deployment? Let us understand the reasons why ASIC miner matters.
There used to be the days when the mining of crypto currency could be done by the effective deployment of home computers and everyone was able to do so.
How so ever, those days have long passed. In today's date, if you are mining Bitcoin, Bitcoin Cash, Litecoin or even Ethereum; the most efficient way to do so - is to have that specialized hardware which is known as application specific integrated circuit (ASIC) miner.
Some people confuse application specific integrated circuit (ASIC) miners with dedicated graphics card or with a desktop personal computer; however ASIC is something different.
ASIC miners are specialized designed chips having a single purpose and that single purpose might be the processing of audio or even management of cellular phone! While for the domain of crypto currency mining, these specialized chips are fabricated into specifically designated motherboards and made a single unit.
Application specific integrated circuit miners are simply a machine built for a singular aim! These ASIC miners are developed and designed to the point of trickling down to the level of chip.
In brief, the process of mining pertains to executing complicated mathematical algorithms in the want of a fixated number.
Mining hardware be it of any type, such as - application specific integrated circuit miners, graphical processing units mining rigs, or even personal computer’s central processing unit; they constantly have to execute certain calculations to find out that particular number.
Mining of Bitcoin or any other crypto currency which is based on the concept of proof of work; pertains to the first miner which is able to obtain that specific number - is provided with a reward! This reward amounts to certain number of Bitcoins. And Bitcoins could be traded in dollar$!
With this concept many big corporate houses have started to aggregate the required robust hardware and are into the process of mining of crypto currencies on a war footing. The simple mathematics of finding better rewards is to have speedy systems. The speedier your computing resources are - the more would be the award you would receive in return of mining! This is the reason individual minors as well as corporate miners are progressively relying on application specific integrated circuits based miners; because it gives them a greater chance of earning money through obtained crypto currency.
Every one of the crypto currency has got its own hash algorithm for cryptographic action; therefore every one of the prospective application specific integrated circuits based miner has to be specifically designed over that particular algorithm of that particular crypto currency!
The most common and popular crypto currency of the word Bitcoin has SHA-256 algorithm of hash; hence to mine this crypto currency one needs application specific integrated circuits designed over this algorithm. Similar process has to be followed for other crypto currencies such as Dash, LiteCoin, and Ethereum etc.
ASIC miners combine the low usage of power as well as the performance. This deadly combination makes it possible that ASIC miners remain the most efficient way to mine the crypto currency till date.
