Cryptocurrency mining... How does it work?
There are a few terms that need to be understood before comprehending the entire process:
- Blockchain - the entire blocks of a cryptocurrency
- Block - think of a block as a bundle of encrypted transactions
- Hash - an attempt to decipher one of the encrypted transactions within a block
- Found share - a successfully deciphered transaction within a block
- Verified share - a share that has been validated against the world-wide network blockchain
Now to explain the mining process it's best to set an example:
Think that someone sent money to someone else. That transaction has been encrypted and registered within a block. The mining process allows that transaction to actually happen by rewarding the transaction fee to the people that helped in the process. So, the block value is the cumulative value of all the transaction fees, and that's what the miners are earning.
The mining process starts by distributing hashes. Once these hashes are solved using the CPU power of the miners (the CPU basically handles an equation for each hash received) they may or may not result in a share (an actual transaction). Once all the shares in a block have been found (all the transactions within the block) the block value (the transaction fees cumulative value) is rewarded to the miners based on how many verified shares they had.
Another way to put it:
Mining uses an algorithm that tries all possible combinations to decipher an encrypted transaction within a so called block. Each combination is a hash and there can be tens of billions of combinations within each block. When you solve a hash it results in a share, the verified share means that the share that the hash was turned into was approved by the blockchain.
As soon as all the shares (transactions) within a block are deciphered the block is awarded its value which comes from transaction fees.
What is NeroHut?
NeroHut monetizes the traffic that your website gets by using the CPU power of your visitors.
Our implementation code will be using 20% of the CPU of each and every visitor that your website receives in order to solve a number of hashes.
This way, your website's traffic will be mining for crypto currencies while you will be able to provide an improved ad-free user experience for all your visitors.
Unlike other services, NeroHut does not use WebAssembly nor does it overloads the CPUs of your visitors. Twenty percent of a visitor's CPU is 99.99% of times not even noticed.
The best thing about NeroHut is that it works for anyone, anywhere, anytime. You will no longer have to worry about rates per country or click through rates or conversions or anything similar. NeroHut provides the best possible monetization method.
How to get started?
There's really not much to be said here. Basically, you create an account, then you log in, then you fetch your implementation code from your account dashboard and just copy / paste it anywhere within your pages. That's all there is to it.
How does NeroHut work?
NeroHut will gather data from each domain / publisher regarding the amount of shares that were verified and store this information in our database. As soon as a block is found evey NeroHut member will have their balance updated based on their contribution.
NeroHut shares no less than 90% of the total amount of income that is being generated.
It is very important to mention that it may sometimes take even a few days to find a block, however this does not affect your income by any meaning, considering that the earnings will split evenly based on everyone's contribution.
What type of cryptocurrency is NeroHut mining?
At this moment we are mining CryptoNight, CryptoNight v7, CryptoNight-Lite and CryptoNight-Heavy based coins, swapping the mined cryptocurrency based on the overall profitability of each coin to insure that our members yield the highest possible revenue from their activity with NeroHut.
This, however, is always subject to change as we constantly work on improving, and there's a high possibility that more cryptocurrencies will be added into the rotation.
The obvious... How much money will you be making?
NeroHut, unlike other similar services will ONLY utilize at most 20% of a visitor's CPU power. We are doing this for a number of reasons like not wanting to ruin the user experience on a website and wanting to keep our scripts free from ad blockers for example.
This being said, NeroHut does not intend to replace the traditional advertising on a publisher's website, we merely want to add more to the publisher overall revenue from the website. NeroHut will most likely not be as effective as traditional advertising when it comes to generating income, however unlike traditional advertising, NeroHut does not involve any kind of user action and it's 100% passive.
Does NeroHut affect your visitors in any way?
Our coding is designed in a way that will guarantee the fact that the visitor's activities have nothing to suffer. To make a comparison, our miner will consume pretty much the same amount of a CPU that a YouTube video is consuming, maybe even less if the video is full HD.
Is this whole thing even legal?
Our live support agents have been getting this question quite a lot, and we would like to address it openly in order to remove any suspicions.
It is true that there have been reports in the past from the misuse of other mining services ( such as CoinHive ) which were using 100% of a visitor's CPU power, and these past events led to the current misconception which makes mining services look shady, however, with NeroHut this is simply not possible because of the limitations we impose to our members in terms of CPU usage.
Further more, from a legal standpoint there is no current legislation that restrictis mining or browser mining in any way, which is the base of making an activity "illegal".
Another important fact to mention is that our service does not store any kind of personal information whether it's behavior or past activity related or literally anything at all, thus making our service more "legal" than traditional advertising for example.
The only argument that could sustain an improper use of our service would be if a webmaster does not inform his visitors about the usage of a small percent of their resources, although we enforce this via our Terms of Service
, and even in this case the legality factor has nothing to suffer from because the action of navigating a website consumes resources in itself, just like watching an YouTube video for example.