The adoption of emerging technology hinges on respect
The ever-changing and fast-paced 21st century in which we live in bears an abundance of technological fruit for the picking. Aside from generating profit and ensuring product market fit, successful innovation typically improves, solves, or streamlines an existing system.
This has never been more true in regards to emerging blockchain technology and the plethora of cryptocurrencies being developed by the dozens. Initially embraced solely by techies, geeks, or the super-curious, these underground technologies were shrouded in mystery and only used — allegedly — by criminals and weirdos.
But in an era of disruption and one in which the word “Blockchain” continues to reverberate, it is important to think about how emerging technology is used before it becomes mainstream. Misuse, especially in its nascent form will hinder adoption and when it is disruptive in nature, its chances of receiving endorsement from the general public diminish even more rapidly.
In order to build trust and transform into something functional and more established, emerging technology must be used with respect, and not solely by its users and proponents. A more pragmatic approach requires the addition of safeguards by innovators to mitigate the risk of exploitation, but more importantly, to build a product that lives and breathes transparency.
Stealing computer resources, a well-trodden path
Cryptocurrency misuse is unfortunately a well-documented affair. A common way to exploit unsuspecting users is to steal some of their idle CPU power via a hidden javascript browser miner. Many websites incorporated these scripts — hijacking resources from their visitors, in order to make a quick buck. Measures have been taken to curtail the problem but it is still prevalent.
The continued ability to do this is twofold:
- Technological illiteracy from the majority of internet users
- Disingenuous coding from software developers
In a move to thwart would-be future attackers, the Mozilla Foundation have taken a stand and have decided to include an option in their latest update to ban cryptocurrency scripts. This recent development is an important decision because it demonstrates the scope of the problem encountered by many users.
Legitimate use cases
Continued unethical employment of mining scripts however does not overshadow the real potential that they offer to the world when used correctly. For the less short-sighted, they can build entirely new micro earnings ecosystems based on shared CPU power. Moreover, the changing landscape of internet use seems to be shifting.
The majority of digital publishers monetize their websites via traditional advertisements but their increasingly intrusive placement and frequency make them less desirable for visitors. Ad block usage is also increasing, rubbing salt in the wound for webmasters. This has been problematic, up until now.
Going back to the drawing board, we see how value is created and we can apply these new ideas to the current model. Instead of risking revenue loss through ad blindness, ad blockers and diminished sessions due to paywalls, webmasters can implement a system whereby their users share some of their processing power in exchange for tokens. Their data consumption helps monetize websites and in return something tangible is generated for the user. A system in which each party gains something helps build a positive feedback loop. User retention and loyalty is rewarded and when there is sufficient momentum, webmasters no longer have to revert to their old go-to methods of monetization.
Honesty is the best policy
20th century American historian and public intellectual Arthur M. Schlesinger once said:
“Science and technology revolutionize our lives, but memory, tradition and myth frame our response.”
The victims of illicit javascript miners will invariably remain wary unless new systems exemplify transparency and honesty and as the old adage goes “Once bitten twice shy.”
If this technology is to gain adoption, then respect, compliance and ethics must resound with users. They must retain control of their CPUs and be able to adjust the idle processing power they share. For webmasters, rewarding user participation is essential but this also goes some way to educate about this emerging system.
Ultimately, misconduct in tech hinders adoption and encourages mistrust. It is far better to build a monetization solution that conforms to a moral code of practice than concentrate on short-term profit. If we are to see this new technology grow, then we need to begin by changing how it is perceived and this needs to start now.
For the time being, negative press and widespread apprehension dominate Google’s search results and as we attempt to wash away the stains of the wrongful activity of the past, it must be remembered that we may have lost the battle but we still aim to win the war.
Changing the mindset
Changing the frame of mind starts first and foremost by finding a word that symbolises the exact opposite of cryptojacking. It will hopefully be picked up by the media and allow the entire micro earnings ecosystem to be painted in a more positive light.
The inventor of the term cryptojacking is not known but its origins can be traced back to the end of 2016 where it was employed primarily in the context of ransomware. It slowly became an umbrella term to describe crypto mining as a whole because as a technique, it was far more simple and profitable than ransomware.
One small step for man, one giant leap for mankind!
Enough of cryptojacking! Will you be the person to invent its opposite? We are offering 1 Ethereum as a prize to the person who finds this word. As a way to track the suggestions, please use the hashtag #positivemining in Twitter.
Rules:
- Solely Moonify will have the rights over the selection process
- If none of the propositions are deemed appropriate, Moonify reserve the right of non-selection, in which case the prize will not be rewarded
- If a winner is chosen, 1 Ethereum will be transferred from this wallet 0xE4843D788526Bb2d8273ab9EdF459C99DD66a632
