Adaptive Security Algorithm

By default, all traffic that goes through the ASA is inspected using the Adaptive Security Algorithm and is either allowed through or dropped based on the security policy. The ASA maximizes the firewall performance by checking the state of each packet (is this a new connection or an established connection?) and assigning it to either the session management path (a new connection SYN packet), the fast path (an established connection), or the control plane path (advanced inspection). 

References

- Information about TCP State Bypass

- ASA Firewall Mode Overview

- Stateful Inspection Overview