If you’ve visited a website and came across a banner featuring this text:”
Thank you for supporting this website!
This advertisement is using your spare computing power to mine cryptocurrency.
With a downfall in advertising revenues, some online publishers are seeking non-traditional monetization methods to pay their hosting costs by using their online and mobile traffic to mine cryptocurrency.
Non-traditional is a subtle way to put it, with some describing it in harsher terms, some would see the potentially very lucrative practice for online publishers.
Some major players in the video streaming space including BitTorrent, The Pirate Bay and more prominently Showtime the US video service, are some of the major publishers discovered to be sending mining code to users.
Cryptocurrency, bitcoin to name one, are backed by a wide network of ‘miners’, who compete to solve complex computing problems in exchange for the price, which is large – the bitcoin network, as an example pays over $8m to miners every day – to have a chance of that miners require a huge amount of computing power which includes both the computers and the electricity to run them.
Crypto ads that a different approach, the electric bills are paid by the visitor, but the publisher gets the reward. As this may impact user experience it really depends on the website resource output by the specific publishers, noting it’s not for everyone and publishers should maintain to keep a good overall user experience while taking care of their bottom line.