Coin Hive is a company that utilizes browser processing power to mine Cryptocurrency. (Monero, XMR)
Recently, you might have seen Pirate Bay coming under fire for using a "hidden" crypto miner. Did you know it's rumored Google uses it too? Coin Hive is a company that provides a Mining service that accesses users processing power to solve hashes.
Allow me to simply illustrate how this would work in Google's case.
Step 1: You do a Google Search.
Step 2: Google answers your search like normal.
Step 3: Hidden in the backround, Google also has your browser/computer solve some math equations.
Step 4: You go about your business looking for your search result.
Step 5: Google earns cryptos from those equations your computer solved, and you didn't even realize it.
*Editor's Note: Google's involvement is technically a rumor, since I could not find a source to back this up. There is much evidence of Pirate Bay doing this however, and the steps above would work the exact same in a Pirate Bay search.
How does solving math problems earn Cryptocurrency?
These math equations your browser solves are called "hashes" and need to be solved in order to create new cryptocurrencies. Many websites are now adding this feature to their website, because unless you specifically look for it you wouldn't realize its happening.
You can expect to be mining for someone else when visiting different webpages in the coming months. This "hidden" miner is a javascript code that can be put on pretty much any website or application. It will become more and more widespread, because it honestly is clever as clever gets.
Is this right or wrong?
I try to be objective, so below I provide ways to both resist or join if you want to.
This review was written to help you understand that you DO have a say so in this matter. We all have the choice to not use those sites and systems if we do not want to have our processing power shared.
I'll ask you this: Would you rather have advertisements, or an ad free experience with something running in the backround you hardly even notice?
If you still want to block these scripts, here is how.
How to block Javascripts that automatically mine Cryptocurrencies
Maybe you hate the idea and feel your processing power should not be shared.
I feel you bro, fight the system. I felt violated at first too. You are correct, its your device, and you can do what you want.
There is a process that you can go through to block these javascripts from automatically running in your browser.
The YouTube video below explains this:
Upon further thought about the subject, however, I decided that in the end I was ok with it. I'll be honest, I have not blocked these because I feel its fair for websites to get a little back from me. I've been able to learn so much for free on the web, i'm ok with a tiny bit of a toll to keep things moving. Besides, I only go to sites that provide value to ME anyways, my processing power is never spent in vain.
How to setup your site to automatically mine Cryptocurrencies.
https://coin-hive.com/
I am a firm believer that the world is changing, and programs like these are going to be integral to the future. One thing can be certain, especially with King G on board, this idea is not going anywhere. You might as well jump on board yourself if you have a website or blog that you run. At the bottom of the page is a link to sign your website up.
Some argue that it is unethical, but there needs to be income to keep a website running. Smaller websites are actually replacing advertisements with the Coin Hive service; I feel this is a much better solution than having creepy search history advertisements blaring in my face.
If a website is too laggy, people will leave it anyways. The processing power used from your device or mobile phone is quite minimal; usually around 20%. A website using anything above 20% of your processing power could be noticeable to you, and might be the reason some sites seem much more laggy than others if it has no advertisements.
All in all, I feel I've done a fairly decent job of explaining the basics of Coin-Hive, but there are many applications for their service that I have not even gotten into. I am not as tech savvy as some, but there are ways to develop your own faucet with your website earnings from users with this service. Ever wanted to pay your users to visit? Now you can.
You can even set up an in-game or in-app payment system if you are a sharp enough coder. Imagine creating a game that pays players to keep coming back and refer others, and all the money comes from people playing the game because excess processing power is used to create money. No one needs to spend anything except electricity and time, when you think about it.
I myself am just in the beginning stages of exploring this service, but I feel its going to become more and more prevelant in the coming months.
What is your opinion of web based Cryptocurrency Miners?
Speak your mind in the comments below!
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