Chinese bitcoin miners eye sites in Quebec, Manitoba
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But given how hard it is for most companies to make money from online advertising, it might be something we have to get used to — unless we want to start paying more for things. In the case of bitcoin, mining requires specialised hardware and consumes masses of energy. For example, each bitcoin transaction takes enough energy to boil around 36, kettles filled with water.
But bitcoin is not the only show in town and there are many competing cryptocurrences. Currently it requires no specialised hardware for mining, so anyone with computing power to spare can mine it.
Mining usually takes the form of what is bitcoin mining eli5 healthy competition. Whichever computer solves the equation the fastest is rewarded with the money. With Moreno and other similar cryptocurrencies, a pool of computers can work together and share the reward if they win what is bitcoin mining eli5 healthy competition. This allows individual computers to work on a just small part of the mining task. The larger the pool, the more chance there is of winning the reward.
When a computer is cryptojacked, it what is bitcoin mining eli5 healthy added to a pool for to work on the task. As the ad runs in the background, the computer is added to a pool. This means the website or internet provider doing the cryptojacking can mine cryptocurrency with little cost to themselves.
This might not be very much but file-sharing sites in particular have been searching for new businesses models in order to support their operations and cryptojacking could grow into a new income source.
This can be accompanied by a large battery drain. Coinhive strongly advises the websites that deploy it that they should inform users they are being cryptojacked. How do you avoid being cryptojacked? Sign up for our email newsletter. Forget Flowers, Give Science. Get the perfect gift for mom Shop Now.