An ASIC, or Application-Specific Integrated Circuit, is a type of microchip designed for a specific application or task. Unlike general-purpose chips, which can perform a variety of functions, ASICs are optimized for particular uses, such as in cryptocurrency mining or digital signal processing. This specialization allows them to operate more efficiently and consume less power. ASICs are commonly used in various industries, including telecommunications, automotive, and consumer electronics. Their design process involves creating a custom circuit that meets the exact requirements of the application, making them ideal for high-performance tasks where speed and efficiency are crucial.