ASIC stands for “Application Specific Integrated Circuit”. In its core, it is a computer chip designed to complete a specific task.
What is it for? ASICs are designed for all sorts of specialized computing tasks. While they are limited in their use, they are extremely effective when operating on the specific tasks they are designed for, for instance – mining.
How do ASICs work? ASICs achieve efficiency through “pipelining”, that is to say, that by placing chips with essential bits physically closer to each other, they’re able to supplement parallelization gains.