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It seems that quite a lot of websites have recently got into crypto mining Monero (XMR) using the Javascript miner provided by Coin Hive without warning their users that there will be such a thing when you visit them. That of course cannot remain undiscovered for long time due to the increased CPU load when visiting these websites and it really is not the best thing to do and not tell your visitors… not to mention that you won’t be earning that much. You can offer them to open a separate window with the miner as a means to support your website, product or service and then everything could be fine, but not telling them and hoping that they will not find and will not get unhappy is really not fine. In fact besides the web miner that particular service also offers other interesting and useful ways to monetize your traffic with mining, namely the Proof of Work Captcha and PoW Shortlinks that you might want to check out… this post however is not about the XMR web miner.
This post is about JSEcoin that we have talked about last month as well. It is a project similar in a ways to Coin Hive, but it more than just a web-based miner for an existing crypto coin. It is a whole new crypto currency that can be mined with a dedicated web miner and that you can also embed in your website for your visitors to help support you by mining the coin. Soon after we covered the project they have shut down the function for users to try self mining as there was an influx of new users registering and trying it out, not really a surprise here. Now, a bit later the backend has been upgraded to meet the increased user demand and self mining is back and running just fine and seems more stable, though hashrate seems a bit low now.
The miner for JSEcoin does come with a built-in feature to let the users visiting a website that it is there and that some of their CPU resources will be used for mining. Unlike the XMR web miner that is pretty demanding and the hasrate is really not that high compared to a dedicated miner running on the same hardware here things are designed around the goal of using a web browser to mine the coin. Of course JSE coin is a new young project and still needs some time to develop and start bringing actual returns should you decide to sell any mined coins, it is riskier at this point, but can also be more rewarding in the long term. So if you are interested in the concept of web mining, then you should most definitely check this project out and give it a try as it is looking really promising even at this early stage of development.
– For more information about the project JSEcoin and to give mining a try yourself…
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…
So what is the total amount of possible earnings per day? 1440 coins are currently being distributed to publishers and 720 coins for self-miners on the platform, so a total of 2160 new JSE coins per day are being generated with a bit over half a million coins in circulation already according to the developers of the project (from early September). Out of those tokens 100,000 have been retained by the company and another 400,000 are for the co-founders of the project, so the actual number of coins in circulation in the hands of users is really just a few tens of thousands. According to the whitepaper the Minimum Final Distribution is going to be 10,000,000 and the Maximum Final Distribution: 100,000,000.
The answer to the question is it risky is yes, it is, but then again early adopters do have the chance if things pick up to get a much higher reward for being there right from the start. Our recommendation is just to give it a go and see for yourself, mining locally or through your own website or blog. We are not giving you investment advice here, this is for you to decide, but as far as mining goes you should go and give it a try for sure.
– For more information about the project JSEcoin and to give it a try yourself…