Posts Tagged ‘xmr

Recently we have introduced to you JSEcoin – JavaScript Embeded Cryptocurrency for Webmasters as an interesting new project that uses JavaScript mining via the browser of users and that can be used to monetize website traffic. But another similar service has gotten much more attention lately as it was found to be used on The Pirate Bay (a torrent website) in the form of an embedded JS miner for Monero (XMR). The service in question is Coin Hive and it allows you users to embed JavaScript miners in their website as a side source of revenue, so the service in itself is not bad or evil or whatever. The problem with The Pirate Bay is that they have introduced the JavaScript code of the miner without letting any of the visitors know, so people started noticing that when they open the website their CPU load skyrockets and that is not fine.

The main problem we are seeing here with a service like that is when users don’t know that you are using their computing resources to mine, you need to tell them or offer them the choice to do it in order to support the website. The default example from Coin Hive does not come with any visual user interface or anything to let the users know there is a miner, but what if you give your visitors a link to click that will open up a page with a miner. They would be able to open up and control the miner as well as monitor it and have that page open and the miner running in order to support the website or the community they are a part of with their computing power. It is an interesting idea and a one that might actually work out well for some people, the problem however is that most of the users would be thinking along the way of abusing a service like that and making profit at the expense of some users. Still, if you find the project interesting and useful you might look into it, just make sure you tell your visitors what you are doing if you embed it on a website in order not to have negative, instead of positive results!

Apart from the embeddable web-based miner using JavaScript the CoinHive service offers some other interesting alternatives to more traditional services such as a Proof of Work Shortlinks service as well as Proof of Work Captcha. Both of these user actual mining of a certain number of hashes before allowing you to forward you to a certain link or to confirm that you are a human and not a bot. Using Proof of Work (mining) for more common things that normally utilize different approaches can actually be a interesting way to improve and yet at the same time monetize some aspects from an already working service. In short you might want to think outside of the box and think of new ways to use crypto mining in a way that you may even reward users for doing the “heavy lifting” in an existing web-based game or a social network for example. Of course computing hashes in a browser with JavaScript is not the most efficient way to do things, especially compared to optimized mining software. We have played around with the miner and the extra PoW-based services available, though do note that we have not embedded this miner into the website here and we would not do it without warning you should we decide to test it live for example.

For more details and to check out the CoinHive JavaScript web-based Monero (XMR) miner…

A quick update on the Merito service that is intended to help gamers not yet into crypto currencies to easily make some extra cash from their gaming computers’ hardware. We’ve been keeping an eye on the service and everything seems to be progressing pretty well with new updates and fixes getting released and more users joining. Since Merito is targeted at gamers it allows you to use your computer hardware and mine in order to get a new game as a reward, vouchers for game purchases from G2A or get your earnings paid with PayPal. We have tried cashing out our earnings while testing to PayPal and in a couple of hours after requesting the payment they were transferred in our account. This makes it easy not to care about what crypto you are mining or what is the exchange rate or how to convert them to cash if you are a gamer. Of course this is intended for gamers, not for the regular crypto miners that actually do care about all these things.

For more information and to download and try yourself the Metrito application…

The developers of Monero (XMR) have just disclosed that they have discovered and patched a critical bug that affects all CryptoNote-based cryptocurrencies, and allows for the creation of an unlimited number of coins in a way that is undetectable to an observer unless they know about the fatal flaw and can search for it. This major bug has been patched a while ago and it has been confirmed that the Monero network was never affected by it. All other active and affected CryptoNote coins, including CryptoNote themselves, Bytecoin, Forknote, Boolberry, DashCoin, and DigitalNote have apparently been notified about the possible issue prior to the public disclosure of the problem.

Note that, at this time, only Monero (XMR), Aeon (AEON), Boolberry (XBB), and Forknote have updated. This means that there could be potential abuse, though it may not necessarily happen with coins that have not patched and fixed the bug. As a result caution is advised for anyone using, trading, exchanging, or running services involving the following currencies affected by this issue: Bytecoin (BCN), DashCoin (DSH), DigitalNote (XDN). Just to clarify a possible misunderstanding by some users – DashCoin (DSH) is not the same as DASH as DASH is not CryptoNote, but X11-based!

Check the official announcement from Monero about the major bug discovery and fix…


top