Cryptojacking is a very popular and worrisome trend. For all of the negative attention in-browser cryptocurrency mining gets, there are still plenty of legitimate use cases for it as well. It is important not to lose sight of how in-browser crypto mining can revolutionize the advertising industry as a whole.
IN-BROWSER CRYPTO MINING CAN BE SUCCESSFUL
Over the past few months, there has been nothing but negative attention directed at projects looking to mine cryptocurrencies through one’s browser. A lot of websites have begun mining cryptocurrencies through other people’s browsers, usually without asking for permission or giving users the option to opt out. However, there are a fair few reasons as to why this business model also deserves a lot of positive attention. Depending on each website and its content, in-browser cryptocurrency mining could remove the need for traditional online advertising. Most internet users do not like watching ads, dealing with pop-ups, or having to wait for website content to load because the badly-coded advertising scripts are messing things up. Cryptocades is an interesting example in this regard. Although it is a niche site in its current form, the platform offers blockchain-driven games for enthusiasts to play. Winners will receive a small amount of Bitcoin, yet that money has to come from somewhere. By not relying on more traditional advertisements, the site owners decided to incorporate in-browser cryptocurrency mining.
However, unlike most other websites taking this approach, Cryptocades lets users customize the number of CPU cycles they wish to “donate”. Moreover, the site doesn’t constantly mine cryptocurrency either, as the process only takes place when a game is being played. While this is a business model that will not work for every type of website out there, it also goes to show that there are a few different options to explore in this regard. While the malicious use of in-browser cryptocurrency mining will continue to dominate the headlines, it is important to keep tabs on its positive implications as well. Additionally, it remains to be seen how many other websites will embrace the in-browser cryptocurrency mining concept in the future, as there are still plenty of reasons for most companies to stick with traditional advertising. Finding the right balance between generating revenue and giving part of those earnings back to the community is not easy by any means. With internet content growing more popular every single quarter, something will need to change in regards to advertisements in general. Whether or not in-browser mining is the way to go remains to be determined at this stage.