Coin Hive

Bitcoin Cryptomoney Cryptocurrency Btc Cryptography

As we move further into the digital age, we are faced with a challenge of engagement and monetization. Who pay for the future of the internet, and more and more advertising looks less like the sure fire angel it used to be. To that end a new path seem to be on the horizon and it was introduced to me from the most unlikely of places ThePirateBay.

News articles popped up this week highlighting a test on the site of a new javascript powered cryptocurrency miner embedded into sites code. While javascript miners are not exactly new, but their inefficiency makes them all but worthless for mining things like Bitcoins. In comes a proof of concept, Coin Hive, the service TPB integrated into their site. Rather then mining Bitcoins, the javascript mines an easier to mine coin calledĀ Monero. With a high level of control over the processing, the miner provides an easy to verify method of monetary return.

So what does this have to do with advertising. By asking or incentivising users to gift your site their CPU processing power, a site can earn money without having to rely on an ad based clients while directly generating revenue. The Coin Hive service also features a Captcha feature similar to Google’s ReCaptcha that can be used to require a certain amount of mining to secure a form from automation.

As a former developer of web based games, this concept is extremely interesting to me, and I’m interested to see where this proof of concept heads.

Michael Blasdel

A 15 year veteran graphic designer. Freelancer, entrepreneur, social media, internet enthusiast. Here to solve the problems of the world one post at a time.

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