Wednesday, February 19, 2020

Cryptojackers Earn Below $6 From Cryptojacking Websites Says Study

Elizabeth Jamie
Jamie Elizabeth is a Mass Communication Graduate from the Philippines, knowledgeable in the field of cryptocurrencies, blockchain etc., currently enjoying freelance writing, and able to write anything under the sun.

It’s not always a high business for the cryptojackers as research concluded that each cryptojacking website only earns below $6 everyday on its transactions and it seems like cryptojackers are not happy about it either.

According to the latest research done at Braunschweig, Germany, the rate of payment for an average cryptojacking websites are extremely low compared to the high-traffic websites which usually revolves their earned money from $119 to $340 a day. Normally, the average ones tend to earn little interest from their work with the amount of $5.80 per day which states that their earnings were actually below minimum salary.

As stated in a report titled “Web-based Cryptojacking in the Wild,”:

“On average these websites attract 24,721 visitors per day and keep them for roughly 3 minutes on average. Overall, we thus observe a range of 0.17 to 89,000 core hours, with a mean of 1,550 core hours. With a hash rate of 80 H/s and CoinHive’s payout ratio, a miner earns about 5.8 USD per day and website on average, which supports our observation that web-based cryptojacking currently provides only limited profit”

Although, the pay in this work are a little bit low, research says that the presence of cryptojacking is very evident in the online world as they’ve seen that currently 1 out of 500 websites features mining cryptos, most usually Monero. They have also explained that these websites are often seen on entertainment, technology, business, and porn sites — which gained the highest site featuring cryptomining.

Lots of Cryptojacking Sites

As the business gains popularity in the market, the study stated that the different internet browsers are also not doing a pretty good job as they are proven to be ineffective to detect malwares on each sites.

Marius Musch, Christian Wressnegger, Martin Johns, and Konrad Rieck who made the research gave an advice to the browsers developers to implement tab-based CPU quotas which, according to them, are more helpful in order to tell which is the authorized cryptocurrency mining and which is not.

There are a lot of websites coated with different scams and the reason of its existence is the industry itself. So in order to understand which is the right path and the wrong site, the users must be fully aware of its given context that promotes exaggeration on its perks. As the research states that the average cryptojackers earn little amount, makes a silver lining for the users as they know that just a few dollars or cryptos are taken away from visiting on their websites.



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