Salon is Allowing Users to Forgo Ads by Mining Cryptocurrency
The modern media environment has made it difficult to earn revenue through traditional business models, so Salon, the well-known culture and opinion publication, has decided to create an entirely new revenue stream by mining cryptocurrency. The site gives readers the option to lend their computing power to mining Monero, one of the many cryptocurrencies circulating in the blockchain today.
Illicit, unwilling cryptocurrency mining has been a subject of controversy in recent months, but site's that use their visitors CPUs for mining cryptocurrency need not necessary do so without consent. Salon's code for mining Monero only harnesses the unused CPU power on readers' computers, so it shouldn't have any exceptionally negative impact to users' experiences on the site. Further, the mining technique allows Salon to make enough money to offset ad revenue, meaning that readers get a more pleasant, ad-free experience.
Illicit, unwilling cryptocurrency mining has been a subject of controversy in recent months, but site's that use their visitors CPUs for mining cryptocurrency need not necessary do so without consent. Salon's code for mining Monero only harnesses the unused CPU power on readers' computers, so it shouldn't have any exceptionally negative impact to users' experiences on the site. Further, the mining technique allows Salon to make enough money to offset ad revenue, meaning that readers get a more pleasant, ad-free experience.
Trend Themes
1. Cryptocurrency Mining - The use of cryptocurrency mining as an alternative revenue stream for online platforms presents disruptive innovation opportunities for traditional advertising models.
2. Consent-based Mining - The practice of obtaining users' consent for cryptocurrency mining provides a transparent and ethical approach to monetizing websites, paving the way for new business models.
3. Ad-free User Experience - Creating ad-free experiences through cryptocurrency mining allows businesses to offer a more engaging and pleasant user experience while still generating revenue.
Industry Implications
1. Media Publishing - Cryptocurrency mining offers media publishers the opportunity to explore new revenue streams and reduce their reliance on traditional advertising methods.
2. Blockchain Technology - The integration of cryptocurrency mining into websites showcases the disruptive potential of blockchain technology in revolutionizing revenue generation and content monetization.
3. Digital Advertising - The concept of ad-free user experiences through cryptocurrency mining challenges the conventional digital advertising industry, prompting a need to rethink traditional models and strategies.
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