Over the past few months we’ve devoted a post or two to rise of cryptocurrencies like Bitcoin and how they’re still worth taking note of despite the fact they haven’t ‘taken off’ quite like people expected them to. Different people have different takes on whether they will ever become a legitimate player on the global currency scene, but we believe that there is in fact going to be a demand for currencies that are not internationally regulated by any specific bodies and can be uniform from one country / currency to the next. Here at 4GoodHosting, we’re a leading Canadian web hosting provider who also takes a keen interest in developments in the digital world. That’s likely a hallmark of any good provider –staying on top of trends and the like and choosing the most relevant ones to share with their customers. Right then, let’s continue. Not-So-Harmless Browsing It would seem that Internet ads are now the least of your concerns when it comes to annoyances. Recent news indicates that the websites you visit could now be prompting your computer to do what’s called ‘cryptocurrency mining.’ So with an existing understanding of what a cryptocurrency is, we now need to ask what exactly cryptocurrency mining is. The entirety of the creation, management, conversion, and transaction of digital currencies demands a lot of computing power. Each block of transactions involves computer owners around the globe racing to solve a very challenging cryptographic puzzle, and winning means you get paid in the relevant cryptocurrency. Contestants, known as “miners”, up their chances by building up their processing capacity. Most commonly this is done by building server farms in remote locations where electricity is cheap, but they are always searching for inexpensive ways to mine for cryptocurrencies more effectively. Conversely, website publishers are always on the hunt for new ways to generate revenue. The standard means – subscriptions, ads, etc. are often insufficient. They don’t have much appeal for most users, can be hijacked, and the big search engines like Google typically take their cut of revenues. So increasingly these days they are resorting to an unscrupulous approach. They’re offering miners access to the...
