November 10, 2023
The Internet has led us to believe in a sort of a fairytale where we would expect to get a lot of things for free. Even though sometimes it seems so, nothing comes for free, and especially not online. Apart from the death of Net neutrality, there are other ways in which we might start paying for our online services.
A lot of websites and apps offer us their services seemingly free of charge. However, they then bombard us with ads or malware that collect our data. Some websites have come up with a new way to make a profit off of our resources and that comes in the form of Bitcoin cryptojacking. Is this term new for you? Then, let’s learn more about it.
Cryptojacking is the secret use of your computing device’s resources for purposes of Bitcoin mining.
In September of 2017, a new player in the digital market, Coinhive, debuted. They offered to mine the digital currency called Monero (XMR) using a completely new method.
First of all, online advertisements have become redundant and inefficient as more and more people are using ad-blockers to bypass them. This way, websites have been losing a lot of revenue. Also, they have been running out of options on how to increase profits. Secondly, many online users rightfully find online advertisements to be annoying. What this means for online businesses is that they are losing visitors and customers as ads are serving as a type of a deterrent.
So, it seems that with the introduction of bitcoin cryptojacking, website owners have solved two big problems. However, many have started to appear for unsuspecting online users.
The way the new method works is that it uses your device’s CPU for purposes of Bitcoin mining. Instead of your CPU being used at 10-15% of total usage, it will exhibit extreme percentages of up to 80%.
In this case, what you can do is install an Anti-Webminer program as a precaution measure to warn you if your PC is being used by a third-party for purposes you do not condone.
How do you personally feel about this issue? Do you think bitcoin cryptojacking is a good alternative to being bombarded with ads? Is it a fair price to pay? Tell us your opinions!