It seems there are some positive developments relating to in-browser cryptocurrency mining. After a lot of negative news initially, it seems we now have some projects that are taking the right approach. More specifically, Inwemo shows it is possible to conduct “webmining” as it should be done. An opt-out feature is certainly appreciated, for obvious reasons.
Inwemo is a Different Breed of Webmining Script
No one will be surprised to learn that the CoinHive script has quickly become the most hated piece of JavaScript code in the recent history of the internet. Every site mining Monero using visitors’ CPU cycles is using this script, mainly because it is very simple to integrate. Additionally, we have recently seen criminals embed this script on legitimate websites. Every time a story related to webmining comes around these days, CoinHive will seemingly be mentioned in the same breath.
That is not overly positive for Monero either, mind you. Being associated with illicit and illegal activities is never a good selling point for popular cryptocurrencies. Then again, it is how Bitcoin became the world’s leading cryptocurrency not too long ago. Thankfully, it seems some developers are working on ways to make webmining possible while letting users opt out at the same time. We direly need more concepts like this one, to say the very least.
Inwemo is one such solution. This implementation can be integrated in a few easy steps. Users can sign up for an account to get a personal dashboard. They will then receive the code for the script, which must be added to the website in question. Visitors can then choose to support the site by donating CPU cycles, or simply opt out of the feature altogether. It is an interesting way of presenting people with the choice they should always have been allowed to make in the first place.
Although it’s not mentioned explicitly, the service solely focuses on mining Monero, which makes sense. Additionally, the Inwemo team claims their webminer can be used even by people who do not wish to turn off Adblock, which could make it a lucrative tool for most website owners to integrate. Traditional advertising models are slowly losing steam, and new options have to be found sooner or later. Webmining may be the go-to solution in a few years from now.
Do keep in mind using the Inwemo service is not free by any means. As is to be expected from a third-party service provider, it charges a service fee. In this particular case, the fee is pretty steep. Users will give up 22.5% of all earnings in exchange for using this code. This makes CoinHive a lot more appealing, to say the very least. However, it seems users will soon be able to enjoy USD and EUR payout options as well, which is rather intriguing.
Whether or not convenient services such as this one will ever be embraced by the masses remains to be seen. There is certainly a market for webmining tools, although not everyone will actually use this method for more than a few days. Right now, this revenue model is still in the very early stages, and the initial consumer feedback on webmining has been anything but positive. Whether or not that situation will ever change remains to be determined.
