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Joint Collaboration between Salon and Monero

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Salon
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At the beginning of 2018, news broke out that some companies and websites have been mining the cryptocurrency called Monero (XMR) while exploiting the computer proficiency of clueless, unsuspecting users.

Some websites like Google’s Youtube, used advertisements that mine Monero in secrecy while their users watch videos. Other instances are of malware forced by hackers onto hijacked government computers and millions of Android smartphones. But now the progressive online publication Salon is offering its readers a choice of user experience; either disable in-browser and blockers or allow Salon to mine Monero in the background using the reader’s device. Although unforeseen and bold for the journalism industry, this marketing move of Salon, could introduce more people to Monero and the broader crypto market in general.

Understanding Monero

Monero is one of the first ever created private cryptocurrency. The remarkably fungible, open-source, decentralized currency was created in April 2014, with the original idea published by the pseudonyms Nicolas Van Saberhagen. Monero uses the CryptoNight proof-of-work hash algorithm, which is designed to be resistant to application-specific integrated circuit (ASIC) mining, unlike Bitcoin and some other minable coins. Monero can be mined by graphics card and computer processors.

Monero is a brilliant privacy coin as it operates on an opaque, untraceable blockchain. It uses ring signatures to enable senders to conceal their transaction outputs among others, randomized stealth addresses to obscure receiving addresses transactions, and a view key and spend key that can be separately shared to protect against surveillance. Therefore, Monero has become the most preferred crypto for making illicit transactions on the Dark Web as well as illegal embedding of mining code into websites and apps.

In order to provide free content, Salon primarily relied on advertisements to run its servers. However, digital ads are inadequate to fully pay for most media outlets. Salon noted that its advertising revenue had declined by a margin of 40 billion dollars in 1999 to 2010 and this has triggered Salon to offer users a new option to pay for content. Salon will earn a profit by selling a small percentage of the users’ spare processing power to contribute to the advancement of technological innovation. Contradictory to the malware approach which seeks to exploit as much of a computer’s processing power as possible, Salon declared that it would steer clear of that by actively adjusting the amount of processing power being used by the crypto-miner.

The Process by Which Salon Is Mining Monero

Salon’s beta program explains that like other media firms, it needs to earn online revenue. There are several ad blockers like uBlock, Adblock and Ghostery hinder the website’s capability to mint money from advertisements. When a reader using an ad blocker visits Salon’s website, a popup appears on the screen asking the readers to either disable their ad blocker and refresh their page or opt-in to allow Salon to run Coinhive. It basically means that reader is given the option to “suppress ads” which if selected by the user will allow “Salon to tap into his unused computing power”. It means Salon will be instructing the reader’s processor to run calculations. Coinhive is one of the most commonly-used browser-based mining programs. The service offers Javascript-based software which website owners can implant on their sites. Salon’s test operation comes at a crucial time when digital media companies are losing ad profits, courtesy of savvy viewers and intricate ad blockers. Its clever program could yield benefit for both itself and Monero enthusiasts. Salon is basically giving mainstream exposure to Monero by introducing the cryptocurrency to its readers who otherwise might not have heard about it. Salon itself is rather optimistic and confident on blockchain technology, stating that it intends to further use any earnings to bolster the evolution and innovation of digital currencies.

Conclusion

Salon is not the first online site to attempt this as the Pirate Bay had done the same thing in 2017. But Salon is the first media organization to publicly and intentionally take this specific step towards adopting alternative revenue model. This bold move by Salon, if successful, will offer incentives to other information media websites to offer viewers the choice between enabling advertisements and lending computer power.

The only threat to Monero traders is that if Salon becomes prosperous in mining Monero from its viewers and sells the cash on exchanges right away, then there might be downward pressure on price in the short-term.but the positive exposure Salon is offering Monero should easily outweigh that effect.

We will be updating our subscribers as soon as we know more. For the latest on XMR, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Blogs

Reasons Why 2019 May Be A Great Year For Crypto

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crypto
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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

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3 Coins with the Largest Potential in 2019

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coins
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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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Do or Die: 3 Crypto Projects that Really Need to Deliver Soon

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crypto projects
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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.

The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.

However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.

1) Ethereum (ETH)

Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…

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