Analog to Digital Converter (ADC) is a key functional block in the design of mixed signal, system on chip, and signal processing applications. An optimized method for the direct conversion of analog signal to Gray code representation is presented. This eliminates the need for binary-to-Gray code conversion in many digital modulation techniques like M-PSK and M-QAM, which uses Gray coding representation to represent the symbols that are modulated. The authors design a low-power and high-speed Thermometer to Gray encoder for Flash ADC, as encoders have been widely utilized in high-performance critical applications which persistently impose special design constraints in terms of high-frequency, low power consumption, and minimal area. In this chapter, they propose a new circuit that converts the Thermometer code to Gray code and also yields minimized power.