In this short blog post I will introduce the concept of web-based cryptocoin mining and explain why it becomes so popular under websites just recently (October 2017).
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Good or Bad?
So far, cryptocoin mining can be seen as a good and a bad thing. It depends whether the owner of the website is aware of the snippet and whether the visitors of a website are aware of it. However, CoinHive is trying to get rid of websites that implement the code snippet without informing the visitors of the website.
Replacement for Online Advertising?
In my opinion, cryptocoin mining can be seen as an extension of online advertising. It is independent of the advertising, since only the owner of a website belongs to the stakeholders. Unlike advertising, there is no additional party involved. Besides that, it will get harder and harder to coin a given cryptocoin, so the earnings will decay over time. Therefore, I think that it is not as stable as online advertising.
There are several things to mention here. Cryptocoin mining is a good thing and can be seen as an extension of online advertising. Cryptojacking is implemented by hackers on several websites and is seen as a new security threat.
If you are interested in more information on blockchain, definitely read this guest blog post on Data Blogger.