# Definitions

**Blockchain** - a system in which a record of transactions, especially those made in a cryptocurrency, is maintained across computers that are linked in a peer-to-peer network.

**ASIC** - An application-specific integrated circuit (ASIC) is a kind of integrated circuit that is specially built for a specific application or purpose. An application-specific integrated circuit miner is a computerized device that uses ASICs for the sole purpose of mining bitcoin or another cryptocurrency.

**PoW** - Proof of work (PoW) is a form of cryptographic proof in which one party (the prover) proves to others (the verifiers) that a certain amount of a specific computational effort has been expended.

**Bitcoin** - Bitcoin is a digital currency, also called cryptocurrency, that can be traded for goods or services with vendors that accept Bitcoin as payment.

**Token** - Tokens are digital representations of interest in an asset or used to facilitate transactions on a blockchain.

**AI** - Artificial intelligence (AI) is the ability of a computer or a robot controlled by a computer to do tasks that are usually done by humans because they require human intelligence and discernment.

**Hashrate** - Hashrate is a measure of the computational power per second used when mining.

**Efficiency** - Efficiency is the ratio between hashrate and the power consumption. It means how many units of hashrate can be mined per watts.

**kW** – A measure of how much power an appliance needs to run. A kilowatt is 1,000 watts.

**kWh** - 1 kilowatt hour is the amount of energy it takes to run a 1,000 watt (or 1kWh) appliance for 1 hour. kWh stands for kilowatt hour (kWh)
