Coinhive, a service that allows websites to use their visitor's computers to encrypt, is shutting down, ZDNet reports All mining scripts in the service browser will stop working on March 8 and users will have until April 30 to remove the remaining Monero: the cryptocurrency centered on the anonymity taken by the software, from their accounts.
In his blog post announcing the closure, Coinhive gave a couple of reasons for the decision. First is the decrease in the value of Monero, whose value fell to 85% during the last year. Second, the fact that the currency has become much more difficult. A recent fork in the underlying software of the currency has reduced the Coinhive hash index by more than half, and another plate is scheduled for March 9 – hence the decision to stop operations on day 8. The increase in the cost of mining, combined with a decline in the value of the encryption granted, had a serious impact on the profitability of Coinhive.
Coinhive is not the only piece of cryptojacking software out there, but historically it has been one of the most popular. Back in August 2018 PublicWWW by Troy Mursch He estimated that the service controlled 62 percent of the total encryption market.