Coinhive is a cryptocurrency mining service that allows website owners to use the processing power of their visitors' computers to mine Monero, a privacy-focused cryptocurrency. The technology works by embedding a JavaScript code on a website, which runs in the background while the user is browsing the site, using their CPU resources to solve complex mathematical problems that generate Monero coins. The idea behind Coinhive was to provide an alternative revenue stream for website owners who were struggling with declining advertising revenues. However, the technology quickly gained notoriety as it was abused by malicious actors who started infecting websites with the Coinhive code without the knowledge or consent of the site owners, turning their visitors into unwitting participants in cryptocurrency mining. This led to widespread criticism of Coinhive and similar services, as they were seen as a form of malware that exploited users' computing resources without their consent. As a result, major web browsers like Google Chrome and Mozilla Firefox began blocking Coinhive scripts, and many website owners removed the code from their sites. In response to this backlash, Coinhive announced that it would be discontinuing its services in March 2019 due to the negative image associated with browser-based mining. Today, Coinhive remains a cautionary tale about the ethical and legal implications of using visitors' computing resources for profit without their explicit consent.
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Alternatives to CoinHive
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How to use CoinHive
CoinHive is a cryptocurrency mining service that allows you to mine the Monero cryptocurrency using your website or application. The service is accessible through an API or by integrating CoinHive JavaScript library into your website or app.
Here are the steps on how to use CoinHive:
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Create an Account: To begin, visit the official CoinHive website and create an account. You will need to provide an email address, username, and password. Once you have verified your account via email, you can log in to the dashboard where you will find your unique Site key and Secret key.
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Decide on Implementation Method: Once you have logged in to your CoinHive account, you need to decide on the implementation method. There are two ways of implementing CoinHive- JavaScript and API.
If you want to implement CoinHive on your website, then the JavaScript method might be the best option. With this method, you integrate the CoinHive JavaScript library into your site. The library runs in the browser of your site visitors and mines coins for you as they browse your site.
On the other hand, if you want to use CoinHive for a mobile app or desktop application, then the API method might be the best option. This method uses HTTP requests to connect to the CoinHive server, which then returns the mining results.
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Configure Mining Settings: Once you have decided on the implementation method, you need to configure the mining settings before deployment. You can set the number of threads to be used for mining, which affects the mining speed, and the throttle rate, which limits the CPU usage by the mining process.
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Deploy on Website/Application: After configuring the mining settings, you can now deploy the code on your website or application. For the JavaScript method, you need to add the CoinHive JavaScript library to your website code. For the API method, you need to make HTTP requests to the CoinHive server using your preferred programming language.
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Monitor Mining Activity: Once you have deployed CoinHive, you can monitor the mining activity through the CoinHive dashboard. You can see the number of hashes generated, the number of active threads, and the earnings from the mining activity.
In conclusion, CoinHive is a great way to monetize your website or application by mining Monero cryptocurrency. However, it is important to note that using this service can impact the performance of your site or app and be intrusive to the user experience. Therefore, it is essential to use it responsibly and transparently.
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