Sat. Jan 18th, 2020

Research: Browser-based Crypto Mining is the most popular

3 min read
COINHIVE, which was born in the second half of last year, is a pioneer in online mining scripts, but it also allows many malicious websites to use the user’s computer for mining.

The analysis of millions of websites by the research team of the Aachen University of Technology in Germany concluded that COINHIVE earned $250,000 in revenue each month through mining.

By percentage, COINHIVE will allocate 70% of the revenue to the digger of the mining script, with the remaining 30% serving as its server and operating income.

After COINHIVE just launched online mining scripts, Pirate Bay, a world-renowned site, began testing the use of user computers for mining to generate revenue.

At that time, many websites felt that this was a lovely way of profiting, so they followed suit, and some developers followed the example of COINHIVE. However, mining is not a good thing for users. The reason is that the mining process will consume a lot of processor resources and cause the computer to be stuck.

For laptops and mobile devices, it also consumes a lot of power to reduce battery life, and most websites will not tell users that they are mining. But in any case, users are blocked by ads using ad blocking software, which makes it possible to see mining without a source of revenue.

The research team at RWTH Aachen University found that there are still many websites that use online mining scripts, but the actual mining script revenue is very poor. The benefits of online mining depend on the total time the user has left the page, the hardware configuration of the user’s computer, and how many users visit the site on a daily basis. If the amount of visits is meagre, then there will not be much income at all, and the price drop of virtual currency in the first half of this year will also cause massive losses in mining.

There is also a reason that almost all ad-blocking software and anti-virus software will block online mining code, which is also a significant reason for the sharp decline in mining revenue. So if the monthly income of $250,000 is evenly distributed to each website, this income is almost negligible, not to mention the mining alternative to online advertising.

While COINHIVE occupies 75% of the online mining script market, the total revenue of the entire mining script market will not exceed $350,000 per month.

In all fairness, COINHIVE is still worthy of recognition from the perspective of innovation. At the same time, the company also launched a short connection jump service based on mining scripts. That is, the user can generate a specific quick connection in COINHIVE, and other users will first mine for a few seconds before opening the short link and then turn to the target page.

It seems that this is an excellent idea, but the study found that dozens of active users created more than 85% of COINHIVE’s short links. This means that many users do not use this seemingly good service, so it will not bring much real income to COINHIVE.