Study Hails Coinhive As Largest Web-based Mining Provider

How much did the biggest Javascript-based miner earn?

MONERO

Researchers from the RWTH Aachen University in Germany dug into browser-based crypto mining. It found out that, even with this year’s bearish markets, the browser-based miner Coinhive earned a quarter million dollars worth of Monero in the span of a month, Bitcoin.com reported Thursday.

Coinhive mines cryptos by taking away some of your CPU power while you are browsing the internet.

According to the study:

“If we sum up the block rewards of the actually mined blocks over the observation period of 4 weeks, we find that Coinhive earned 1,271 XMR.”

coinhive-logoThat amounts to approximately $250,000 worth of Monero in a month of observation period this spring. Currently the amount is still substantial with the lower prices of around $88 USD per coin.

Coinhive is gauged to mine 1.18 percent of all Monero blocks with a median hash rate of 5.5 million h/s. 30 percent of the coins go to the developers while most of the commission are sent to a small group of people, the authors of the study claimed.

The researchers from the largest German technical university concluded:

“We identify Coinhive as the largest web-based mining provider used by 75% of the mining sites. Given its popularity, we further dissect Coinhive’s link-forwarding service.”

Furthermore, they found out that 10 heavy users contribute over 80 percent of all short links targeting streaming and file-sharing services.

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