Application-Specific Integrated Circuit (ASIC)

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Often associated with cryptocurrency mining, application-specific integrated circuits is an individual or multiple microchip computational system designed for a single purpose or application. Concerning cryptocurrency, ASICs are designed to solve complex hash algorithms to unlock a block of recent transactions, writing it to the chain.


Atomic Swap

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A decentralized, trustless mechanism that allows individuals to exchange one cryptocurrency for another between blockchains through the use of a smart contract. Atomic swaps are peer-to-peer where the smart contract acts to prevent a malicious party from taking currency from the person who initiates the deal.



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Bitcoin is most known for being the first cryptocurrency and blockchain officially released in 2009. Bitcoin as defined by its creator Satoshi Nakamoto: “a purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution… We propose a solution to the double-spending problem using a peer-to-peer network.”