Anti Money Laundering (AML)

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A legal and regulatory measure, often required, to prevent money laundering. Anti-money laundering measures are especially necessary for the cryptocurrency space since transactions and currency holdings may be completely anonymous.

 

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.