Bitpanda Gains FCA Approval to
Austrian cryptocurrency exchange Bitpanda has received approval from the United Kingdom’s Financial Conduct Authority (FCA) to operate in the country,
ASIC resistant refers to a feature in some cryptocurrencies designed to resist specialized mining hardware known as Application Specific Integrated Circuits (ASIC). ASICs are devices specifically built for mining a particular cryptocurrency and are more efficient than traditional mining hardware like CPUs and GPUs.
Being ASIC resistant aims to promote decentralization by allowing a wider range of people to participate in the mining process. By making it difficult or less efficient for ASICs to mine the cryptocurrency, the network becomes more accessible to individual miners using consumer-grade hardware.
ASIC resistance is often achieved through algorithms that require a large amount of memory or other resources, making it impractical for ASICs to be developed for mining that particular cryptocurrency. This approach levels the playing field for miners and reduces the risk of mining centralization in the network.
Overall, ASIC resistance is seen as a way to maintain the principles of decentralization and equality in the mining ecosystem of a cryptocurrency. It ensures that mining remains accessible to a broader community rather than being dominated by a few entities with specialized hardware.
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