In a bold move, a US news website has introduced a novel method to monetise content consumption. This new approach leverages the processing power of visitors’ devices to mine for cryptocurrency, providing an alternative to traditional ad revenue.
Introduction of Crypto-Mining
A US news site has taken a significant step by asking visitors to contribute their device’s processing power to mine cryptocurrency. This initiative aims to offset the revenue lost due to ad blockers. In a statement, the website clarified, “For our beta program, we’ll start by applying your processing power to mine cryptocurrencies to recoup lost ad revenue when you use an ad blocker.”
This option is exclusively available to visitors who employ ad-blocking software. It presents itself as an alternative to whitelisting the website. The mining process is facilitated by Coinhive, a firm previously known for its controversial involvement in malware that conducted mining operations without user consent.
Technology Behind the Mining Process
The chosen technology, Coinhive, focuses on mining Monero cryptocurrency. Launched in April 2014, Monero has garnered attention for its privacy-centric features and adaptability.
Cryptocurrency mining is resource-intensive, requiring substantial computing power and energy. For instance, the surge in crypto-mining activities in Iceland has notably doubled the nation’s power consumption.
Impact on User Experience
Mining demands more from users’ devices, which may lead to performance issues. “Mining uses more of your resources which means your computer works a bit harder and uses more electricity than if you were just passively browsing the site with ads,” the news site explained.
Users with older devices have expressed concerns over noticeable performance dips and increased electricity usage.
Ethical and Practical Considerations
The ethical implications of this move are significant. While inviting users to contribute processing power voluntarily, the technology’s history with unauthorised mining raises questions.
Additionally, the transparency of informing users about the process is crucial. Ensuring users are aware of the resource consumption and potential impact on their devices is essential for maintaining trust.
Comparisons to Traditional Ad Revenue Models
Traditional ad revenue models rely heavily on user engagement with displayed advertisements. With the rise of ad-blockers, content creators face dwindling revenues, prompting the search for alternative solutions.
Cryptocurrency mining presents a unique, albeit contentious, alternative. While it provides a way to bypass ad-blockers, it introduces new challenges related to user consent and resource allocation.
Broader Implications for the Industry
This initiative by the US news site reflects a broader trend towards innovative monetisation strategies in the digital media sector. As traditional revenue streams become less reliable, exploring new technologies and methods becomes imperative.
The success or failure of such initiatives could shape the future approaches of digital content providers. It remains to be seen whether cryptocurrency mining will gain acceptance or face backlash from users.
Conclusion
The introduction of cryptocurrency mining by a US news site marks a significant shift in content monetisation strategies. As traditional ad revenues dwindle, innovative solutions like this may pave the way forward for the industry. However, ensuring transparency and user consent remains paramount for maintaining trust and ethical standards.
The news site’s adoption of crypto-mining highlights a potential future for digital content monetisation. While innovative, this approach must balance profitability with ethical considerations and user experience.
As the media landscape evolves, the integration of such technologies may become more prevalent. The key lies in navigating the fine line between innovation and intrusion.
