Home / Crypto Currency / More and More Websites Rely on CoinHive Mining for a new Revenue Stream

More and More Websites Rely on CoinHive Mining for a new Revenue Stream



Malicious scripts mining Monero have become increasingly popular over the past few months. More and more online platforms are switching on this mining option. In most cases, this occurs without prior warning or user consent. While sites need to find new revenue streams sooner rather than later, secretly mining cryptocurrency with CoinHive is never the best option.

When sites integrate the CoinHive mining script, there is always some backlash. In most cases, website operators don’t even warn users about these major changes. That seems odd, considering the script uses a site visitor’s CPU to mine Monero. It is only normal users should give their consent to do so. Sadly, that is not the case, and some sites are not transparent about this development whatsoever.

CoinHive Becomes More Popular

Salon.com is the latest website to switch to CoinHive mining They do not clarify how much CPU usage is dedicated to this specific process.They do let users opt out but only if they turn off their regular ad blocker. A paid “subscription” is coming soon, even though paywalls have never worked in the slightest. With 25% of the site viewers blocking ads, new revenue streams need to be found rather quickly.

According to the website, they need to counter the popularity of ad-blocking technology. Media sites need to make money to keep producing new content. When people don’t view or interact with traditional ads, a very troublesome situation ensues. A loss of revenue when dealing with paid writers is never an option in this regard. Whether or not using CoinHive will prove to be a smart alternative, has yet to be determined at this point.

It is expected we will see more and more websites embrace this business model moving forward. After all, it is cheap to integrate and doesn’t cost anything to keep active either. It does mean CoinHive will receive a 30% cut of all earnings generated through this script. That is a hefty chunk of money, although it is entirely normal the company receives a cut for their service. Replacing ads with another positive revenue stream is not an easy feat for any site owner as of right now. Cryptocurrency mining is a controversial choice, for obvious reasons.

Header image courtesy of Shutterstock





Read more

Check Also

The Crypto Markets May be in a Rout, But the Blockchain Job Market is in Full Swing

Although the crypto markets are caught in a persisting bear market, blockchain jobs are in a raging bull market, with blockchain developer job growth topping this year’s LinkedIn Emerging Jobs Report. The report, which was released by LinkedIn on December 13th, analyzes the fastest growing jobs in the US, and notes that the blockchain industry was the fastest growing job market in 2018. Crypto Crashed, But Blockchain Still Thriving Although the cryptocurrency markets have faltered throughout 2018 and are currently sitting at their lowest price levels since mid-2017, the blockchain development industry is thriving. The LinkedIn report notes that in the United States, blockchain developer jobs saw 33x growth in 2018, significantly more than the second fastest growing job of machine learning engineers, which grew by 12x throughout the year. The report notes that within the blockchain development sector, the most widely sought-after skills are knowledge and experience with Solidity (smart contracts), blockchain technology, Ethereum, cryptocurrency, and Node.js. Within the market, most of the demand for workers with skills and a knowledge base in the aforementioned technologies stemmed from three main companies, including IBM, ConsenSys, and Chainyard, and three main cities, including San Francisco, New York City, and Atlanta. Although the demand for blockchain developers is incredibly high, the crypto rout has undeniably stagnated this growth, as many companies in the blockchain sector have been impacted by the market crash. ConsenSys, who LinkedIn notes as being one of the biggest blockchain employers, recently underwent a company restructuring that resulted in 13% of the company’s staff being cut. The restructuring, which has been dubbed as “ConsenSys 2.0” by the company’s leaders, will result in more rigorous milestones and will lead to increased focus on the projects with the most long-term potential, while the more experimental and risky projects will be cut. Blockchain Industry Not Going Anywhere Although the blockchain industry may be starting to feel some pressure resulting from the cryptocurrency market crash, it still has a significant amount of growth ahead of it. Recently, MouseBelt, a blockchain and ICO accelerator service, funded UCLA’s first accredited blockchain engineering course, which will start in January of 2019. The course will be for undergraduate students with an interest in computer engineering and will be considered by the university as a 4-credit special topics course. In the past, students have had access to blockchain and cryptocurrency courses through the Anderson School of Management, but this is the first course that is actually being offered by UCLA to undergraduate students. Although the cryptocurrency market’s current situation looks dire, the growth in the blockchain job market and the advent of new blockchain-centric courses from top universities signals that development in DLT tech, which is inexorably tied to crypto, continues pushing ahead and that the best is still yet to come. Featured image from Shutterstock. The post The Crypto Markets May be in a Rout, But the Blockchain Job Market is in Full Swing appeared first on NewsBTC.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.