$ 0.014 3.64%
JSEcoin (JSE) Rank 3968
| Mkt.Cap | $ 0.00000000 | Volume 24H | 0.00000000JSE |
| Market share | 0% | Total Supply | 10 BJSE |
| Proof type | N/A | Open | $ 0.01 |
| Low | $ 0.01 | High | $ 0.01 |
JSEcoin – ICO, Token, Cryptocurrency – BitcoinWiki
As it turns out, JSEcoin is just one of many so-called “mining apps” that are – at the time of writing – still live on the Play Store. One such example is JSEcoin, a British blockchain startup working on browser-based mining solutions as an alternative stream of avenue to advertising. Earlier this week, the company announced it successfully rolled out its mobile app to the Play Store. Google recently announced its plan to curtail the distribution of cryptocurrency mining apps on the Play Store, but it appears some are still slipping through the net.
By embedding a javascript snippet on a website all visitors to the website could carry out the hashing encryption process, which when combined at scale could replace the role of the miners. Website owners would then be rewarded by the distribution of the currency. We have estimated 1 in 15 people either own or have access to a website which provides a large distribution and potential client base.
JSECOIN Source Code Activity Flags
Even though the latter feature goes against Google’s new policy, the search engine giant approved the app for listing. But this isn’t stopping developers from pushing smartphone mining software to the Play Store anyway. It is possible to carry out SHA256 and other encryption in a standard web browser or on a mobile device.
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“Unfortunately even with low power [and] CPU consumption use, we are not allowed to enable mining,” he told us. Moments later, the JSEcoin app was nowhere to be found on Google Play. Among other things, the app came with functionality to manage your mining efforts remotely; or if you prefer, to mine cryptocurrency directly on your mobile device.
JSEcoin is a consumer focused web platform built on top of a browser mined blockchain. It would appear that the Jsecoin miner has been injected into websites that are popular in the United States, India, Canada and Nigeria. Thankfully, the Jsecoin miner operates fully through the Web browser and does not inject any files into your system. Once you leave the Jsecoin miner planted website, the mining activity will cease immediately. Cyrptocurrencies are traditionally mined by industrial sized server farms setup next to power stations consuming vast amounts of electricity.
However, the Jsecoin miner is being used in many other regions too. Website visitors carry out the mathematical hashing process in the background while browsing a website using excess CPU power which would be otherwise wasted. An unobtrusive code snippet placed on the website runs in the browser while a visitor is on the page. This provides the hashing functionality required to secure the blockchain.
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- Often, such shady Web pages will make sure to use up as much processing power as possible with no regard for the user and their system.
- All major cryptocurrencies currently rely on miners to carry out the cryptography hashing.
- Earlier this week, the company announced it successfully rolled out its mobile app to the Play Store.
- We also asked Google for a clarification on how its new cryptocurrency mining policy is enforced.
This way, all users who visit the page in question will have their system hijacked for mining cryptocurrency while the operators of the miner will be filling their pockets with cash. Jsecoin is a service used for mining cryptocurrency via the Web browser.
The live JSEcoin platform includes a suite of tools for webmasters to integrate cryptocurrency with their websites. We looked at the excessive power usage of traditional cryptocurrencies and created a way to use surplus resources, inside existing web browsers, to power blockchain technology.
JSEcoin / developer
This is achieved by injecting code written in JavaScript into the targeted website. Not all Web pages, which take advantage of this service are ill-intended, sometimes genuine websites use this feature, but the difference is that legitimate pages never fail to inform the user that their system will be used to mine cryptocurrency. However, there are rogue websites, which will not present the user with any notification.
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Of course, all the mined Monero will be sent to the wallets of the operators of the Jsecoin miner. Sometimes cyber crooks who have managed to infiltrate a website once may return later and plant a miner like Jsecoin since they already know how to compromise the server.
But even if these mining apps do get removed, it doesn’t mean that the world will be entirely safe from crypto-jacking or cryptocurrency mining malware. What we may see is the rise of third-party cryptocurrency mining apps that users must install from untrusted developers. This opens the door for more malicious, illegitimate apps, which could cause possible permanent damage to users’ devices. In all fairness, this is hardly the first time Google has been caught allowing potentially dangerous apps on the Play Store.
“We don’t allow apps that mine cryptocurrency on devices,” read a message from Google that JSEcoin shared with Hard Fork. We also asked Google for a clarification on how its new cryptocurrency mining policy is enforced. “We regularly update our developer policies, in accordance with current best-practices, to maintain a safe and positive experience for developers and consumers on Google Play,” a spokesperson told Hard Fork. By staying away from such pages, you can avoid wasting your computer's processing power, and your hardware will not be used to generate profit for others.
Miners are rewarded for their efforts by the distribution of the currency. In short, this shows that the app is communicating with a mining pool to confirm and add blocks to a blockchain – it’s mining. However, we were able to confirm the app indeed supports on-device mining (with a little help from security researcher Troy Mursch from Bad Packets Report). We reached out to MinerGate’s developers to discuss how the app mines, but received no response.
