CoinHive

Coinhive, found online at Coin-Hive.com, is a crypto miner for your website. Find out how you can use Coinhive to monetize your users’ CPU power today in our review.

What Is CoinHive?

Coinhive has been in headlines this past week after it was revealed that The Pirate Bay is using visitors’ CPU power to participate in cryptocurrency mining operations.

The website is experimenting with the system as an alternative advertising model. Instead of exclusively raising funds through advertising, The Pirate Bay may be able to make more money through cryptocurrency mining.

That’s where Coinhive sees an opportunity. Coinhive is a crypto miner for website owners. Using Coinhive, a website owner can monetize their online business by harnessing the power of users’ CPUs.

How Does CoinHive Work?

Coinhive operates as a JavaScript miner for the Monero blockchain. You embed the miner into your website, and your users run the miner directly in their browser.

Basically, that means you’re forcing users to “solve” a Captcha. They click the “Verify Me” button, then the Coinhive JavaScript API uses the user’s CPU power for a brief moment. Coinhive also has a shortlink URL API available, which works in a similar way.

Users mine XMR for you in exchange for enjoying an advertising-free experience.

Alternatively, website owners can choose to reward users with in-game currency or any other incentive of their choice. Here are some of the potential rewards users might enjoy:

  • Better video streaming speeds
  • The ability to download a certain file, or unlock access to a certain file
  • Allow users to enjoy ad-free browsing
  • Credit in-game money or items to the user in exchange for their CPU power

Coinhive is packaged into a JavaScript API. You can view the system in action at the developer’s community website here: coin-hive.com/#use-case

CoinHive Features

Proof Of Work Captcha:

Coinhive offers an easy-to-implement Captcha-like service where users need to solve a number of hashes, adjustable by you, in order to submit a form. This prevents spam without unnecessarily inconveniencing users. Users have the same inconvenience they get with a classic Captcha. Basically, you click a “Verify Me” button, and the Captcha borrows some of your CPU cycles to allow you to gain access to the site. The Captcha API is modeled after Google’s reCaptcha. You just load a script tag, create a div, and validate a token on your server on form submission.

Proof Of Work Shortlinks:

If you have a URL you’d like to forward to your users, then you can create a Coinhive shortlink to that URL (CNHV.co). Users can click that link, then be automatically forward to the targeted URL.

Flexible JavaScript API:

The entire Coinhive platform, including the Captcha and the shortlink solution, are built with a JavaScript API. You can implement your own solution on top of their API – say, if you don’t like Captcha or shortlinks.

Can You Monetize Any Website?

Technically, the Coinhive system works on any website. However, it only makes economic sense on websites with a certain number of visitors.

If you run a blog that gets 10 visits per day, for example, then the payout will be miniscule. Nevertheless, the developer of Coinhive claims that you can expect a monthly revenue of about 0.3 XMR (about $26 USD) from just 10 to 20 active users on your website by implementing a reward system where users need to mine for longer duration's.

Obviously, your mileage will vary between websites, but Coinhive’s developer encourages you to try it.

If you have lots of mobile users on your website, then the Coinhive system will also work for mobile users, but it will go very slowly and will drain the users’ battery.

In terms of payouts, Coinhive pays per solved hash. The payout rate is adjusted every few hours based on the global difficulty of the network and the average reward per block. You can view the latest hashrate and difficulty information online at Coin-Hive.com.

Meanwhile, you can withdraw once you’ve reached a minimum amount of 0.5 XMR.

CoinHive Conclusion

Coinhive is a Monero mining API that you can implement into your website in the form of a Captcha form or in a URL shortlink. Users will click the Captcha box or URL shortlink, then the JavaScript API will use that users’ CPU power for a brief period of time. That power is put towards Monero mining operations. You can earn money through a unique new monetization system.

You can learn more about Coinhive’s API at Coin-Hive.com.

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2 COMMENTS

  1. I believe this is only the beginning for services like this, regardless of the backlash from the internet community. I, and many others would prefer less intrusive popup ads for silent mining in the background. That’s why my team created a CoinHive alternative known as Crypto-Loot. We charge less than half the fees of CoinHive, with a smaller minimum payout. Feel free to check us out!

  2. Lololololol crypto-loot is straight up stolen coinhive code. They’re all the same crappy proxied mining pools. I’ve been making over 20% more after switching to cloudcoins

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