Tuesday, September 26, 2017

JavaScript Crypto-Mining with CoinHive and JSECoin

In the past, it has been difficult to mine BitCoin (BTC) with JavaScript in a web browser due to massive amount of processing power necessary.  Lately, JavaScript mining solutions for other types of cryptocurrencies have come on the scene. 2 examples are CoinHive and JSECoin.

CoinHive


CoinHive
CoinHive awards miners in Monero (XMR), a crypto currency known for its privacy as compared to BitCoin (BTC). It current trades for about $94 USD per 1 XMR. Once your account reaches the minimum payout of 0.5 XMR (~$47), they will transfer the Monero to a wallet that you have to setup outside of a normal coin exchange.  From there, you can transfer it into an exchange wallet and then ultimately trade it for USD or BTC.  CoinHive can be used as an alternative monetization source to ads.  It can also be used as a CAPTCHA or gate where your user must mine some Monero before being allowed to enter a website. Note that CoinHive currently takes a 30% rev share from the Monero you mine.

Recently some websites have been in the news for deploying CoinHive without making their users aware of it. They have since pulled it down.  Here are some articles about it:

JSECoin

JSECoin
JSECoin describes itself as "cryptocurrency mined by webmasters built for everyone".  JSECoins are supposed to be worth approximately $1 USD right now each, but no one knows the real value until they do an ICO after which point they will be listed on an exchange. Their ICO is planned for Q2 of 2018.  Those who begin to mine JSECoin have no assurances that their rewards will be worth anything.


What the Heck


Since this is all so new and interesting, I have decided to learn more about JavaScript coin mining, and the best way to do that is to jump in and try it.  Therefore, I have installed CoinHive and JSECoin miner code on this blog!  Consider this a warning - visiting this blog may use some of your computer's CPU until you close the page.  I am curious to see what kind of a "CPM" I make to compare with the ad units I'm running.  If you have any experience with JavaScript miners, please comment below.

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