From LinkedIn
Wow. Now here's a disruptive idea, to put it mildly.Read more: https://www.linkedin.com/pulse/could-cryptocurrency-kill-online-advertising-carl-whalley/This week's excellent Security Now podcast discussed the idea of hackers using code running in the visitors browser of "infected" websites to mine online currency. In other words, for the duration of your visit to the site, your CPU is used to perform some calculations which contribute to the site owner potentially getting paid in Bitcoins without you seeing any of this. The new term for this is "Cryptojacking", because clearly, web surfers need another buzzword to worry about.
"No way!" is the instant response - this just feels wrong. But as Steve Gibson says in the podcast - not so fast. First and foremost, it sounds like a security risk but isn't. This feeling probably comes about because it's pioneers are websites most definitely at the shady end of the spectrum - I'm looking at you, Pirate Bay and chums. So it doesn't get off to a good start when it's described as these sites "stealing" your CPU ticks without you knowing about it. However, that's all they do. It's invariably JavaScript doing this, and that's the same JavaScript which does regular "good" work on your computer when you visit, such as graphics wizardry, form validation etc. In other words, all the code needed for a modern website to operate. Tons of work has gone into that to make it secure. Since code is code, the usual problem of being able to tell the stuff that's wanted from the mining operation makes it difficult to detect, because it's not attempting any security violations such as replicating itself to other sites, spoofing, key logging and so on.
Wouldn't the user notice a slowdown? Turns out this again isn't the case. Today's desktops and smartphones have oodles of horsepower, with most likely plenty to spare. You're reading this now on some device - think that whilst you're doing so, your CPU is getting a max workout? Of course not. So when asked to do these calculations, that spare capacity is brought into use. Users simply don't see any difference. However, there is one area they will definitely see change if this becomes popular, and that's the disruptive part which will strike fear into the heart of any online advertiser...
Cryptocurrency mining is going to be stopped on the browser level very soon and will become akin to malware. Contrary to what @ned will tell you about his silly SMTs, those are not going to be the future either. Cryptocurrency is not going to kill online advertising. At best it will help shape the online advertising ecosystem.
I like to think of Steemit as the MySpace of crypto based social networks. I'm just waiting for the Facebook of crypto social networks to emerge and do it right by actually blending in online advertising technology with a blockchain based social network.
If @ned get's really lucky someone like @fyrstikken might solve the problem for him with a project like Steem Ads.
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