New method in cryptocurrency mining: Coinhive

Cryptocurrency mining is no longer as profitable as it used to be, but both new cryptocurrencies and new mining methods cannot be avoided.. Coinhive is one of them, which uses the processing power of website visitors to mine Monero.. The person visiting the page to which you add the relevant code shares the processing power with you through their browser and you start earning Monero.. Coinhive, which can use 20/30 percent of the visitor’s processing power, does not allow this code to be placed on the entire site, so even though it is added to different pages, the code on a single page is actively transacted.. In other words, even if your visitors open 3 different pages at the same time to which you add the Coinhive code, only one processor is made.. (Otherwise, there may be a situation such as completely exploiting the user’s processor.)

Coinhive states that with this innovative method, especially content/media sites can escape from the advertising-based revenue model.. Everyone knows that users are annoyed by ads and use ad-blocking plugins.. However, whether it is ready to share its processing power is another question mark.. On the other hand, ad/script blocking plugins can also say stop to Coinhive, but it is a separate question mark how careful the users will be in this regard.

The introduction of different options using this method into our lives over time. possible. On the other hand, we can think that ad-blocking plugins can automatically block such scripts.. Therefore, the start of a new competition between the parties is not even a problem.. On the other hand, the most important part of the business is how eager the users are to share the processing power.. Visitors who don’t want to see ads, don’t donate and don’t want money out of their pocket can make this sacrifice for at least a few sites?

The answer to this question may vary depending on the site and the user.. Pirate Bay, for example, says the revenue generated by CoinHive is good enough to be able to remove ads, but it only ran the test for a short period of 24 hours.. Because the users who entered the relevant pages saw the negative effect of processor sharing and there is no doubt that the deterioration of the user experience is an important situation that can bring the end of every attempt.

I can say that Coin-hive is a very striking initiative in terms of digital publishing. but instead of talking early, it would be useful to wait a little longer and wait for whether the use of this model will become widespread.. Maybe this method can be a medicine for startups like Medium that prioritize quality in digital publishing but want to generate income.. What do you think?

You can visit coin-hive.com for detailed information and share the results with us if you use them.

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