Byline: Hannah Parker
Many people refer to crypto browsers as blockchain browsers, while both terms refer to any web browser that supports Web3 technologies such as blockchains. Browser-based cryptocurrency mining dates back to 2011 when an innovative service called BitcoinPlus.com was initially launched. When Bitcoin was cheap, mining was easy, and the idea of using the website to do the work for miners was quite popular back then. There was a period when browser-based cryptocurrency was assumed to be extinct until it resurged in 2017.
A cryptocurrency foundation built on blockchain technology allows financial transactions to be safeguarded by embedding them in a public and immutable chain of blocks. The evolution of technology is also due in part to the advent of blockchain-based coins that are mineable with easy-to-use JavaScript application programming interfaces (APIs) and home hardware. To maintain and advance the system, new blocks must regularly be attached to store all pending transactions, commonly known as mining.
The cryptographic puzzle is referred to as proof-of-work (PoW) that miners compete to solve. PoW adjusts to create new blocks consistently to ensure that the process remains secure and predictable by providing tamper resistance. While more miners join the puzzle, the complexity increases, and the steady block creation remains intact.
About browser-based cryptocurrency mining
This is an integral part of life on the internet as these browsers provide an easy way to navigate the internet. A browser-based cryptocurrency mining approach is cryptocurrency mining that occurs inside a browser and uses scripting language. It differs from other file-based cryptocurrency mining approaches, which require downloading and running a dedicated executable file. Browser-based mining uses JavaScript code for pooled mining, and users could sign up and set scripts in their websites to distribute a way for page visitors to mine for them. In the beginning, browser-based cryptocurrency miners only used to mine Bitcoin, but as time progressed and technology developed, more cryptocurrencies could be mined. Insiders at Bitcoineer review mentioned the likes of Monero as a new browser-based cryptocurrency available for mining.
Why is browser mining on the rise?
Privacy is paramount for most people in the crypto world. Any platform offering a high level of transaction privacy to ensure others cannot easily follow the money trail back to them is a priority, unlike other cryptocurrencies that use public transparent blockchains where anyone can easily view transaction addresses. Browser mining is on the rise as it offers complete privacy, including the amount in a transaction, who received it, and who sent it. Currencies such as Monero allow users to reveal information on their wallet, called a view key. It is easy to use and does not need users to download and install executable files; a user needs to add a few lines of script to the website code, and the visitor is ready to go — the process is neat and easy to use.
How does browser mining work?
To magnify their mining power, visitors can leverage the computing capacity of the website by embedding mining code into websites. Browser mining uses visitors’ computing power, significantly reducing energy bills and hardware expenses. Browser mining also prevents specialized mining hardware from dominating the network. Browser mining can also be used for malicious purposes because it can run cryptocurrency mining scripts on unsuspecting users’ machines without their consent or knowledge, which is called cryptojacking.
For users interested in in-browser mining, the process is straightforward, and one only needs to download and install third-party services. Create an account and start browsing the internet, as the mining can occur in the background. Users are also rewarded in cryptocurrency; the CryptoTab Browser rewards its users in BTC. Users can turn mining on and off and adjust the speed of the cryptocurrency browser. For safe storage, users are provided with a cryptocurrency wallet. For a secure experience of in-browser mining, users should opt for a browser preloaded with a wallet compatible with their preferred decentralized applications (DApps) to avoid installing multiple extensions to their cryptocurrency browser.
Browser cryptocurrency mining is beneficial when it comes to lower energy consumption and is accessible to anyone who has a laptop or computer with an internet connection. This platform allows users to control their experience and adjust settings according to their preferences. Browser mining provides high-grade security features that protect against common risks and ensure a safe and enjoyable cryptocurrency browser experience.
When using browser cryptocurrency mining, users should take several measures to protect themselves, as attackers can alter it or add a backdoor and gain unauthorized access to the server. Users should also be cautious about the sites they visit and avoid downloading unknown files or clicking on suspicious links from untrusted sources. Overall, users should conduct their research to choose reputable browsers with industry-grade security features. This article should not be used as legal advice.
