Apple forbids crypto mining with iOS devices

    2018/06/13 13:59 Joey huang Created with Sketch.
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According to foreign media reports, Apple has announced their latest App Store policy, explicitly prohibiting the "excavation" of Bitcoin or other cryptocurrencies on any of the company’s various devices.

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The new regulations will limit the consumption of battery power because of the exorbitant amount consumed by mining operations, occasionally causing overheating of devices because of the extra pressure put on equipment, all of which occur during the digital cryptocurrency mining process.

Apple stated in its official blog post: "The application, including any third-party advertisements, may not allow running the unrelated background processes, such as cryptocurrency mining."

Due to the huge energy consumption of mining and the limited equipment hash, it is hard to use an iPhone or iPad to conduct cryptocurrency mining. However, the regulation may preemptively prevent future waste of energy by capping the amount used through mining on its devices and putting an end to using multiple devices for crypto mining.

The Bitcoin mining company, Coinmint stated that a single miner generate 1,400 watts of energy during the Bitcoin mining process, which is approximately the equivalent to a hair dryer. The amount of electricity used for Bitcoin mining last year was roughly the same as that for domestic consumption in Ireland, which is about 20 million megawatt-hours.

There are many applications in the iOS App Store that allow users to “mine” with their personal devices, such as “Crypto Coin Miner” and “Crypto currency Cloud Mining”. Crypto Currency Cloud Mining said that it allows users to "make money and earn cryptocurrencies" without buying the hardware or software.

Last weekend, due to the hacking of South Korean cryptocurrency exchange system, Coinrail,Bitcoin prices hit their lowest level in two months. According to data from CoinDesk, the trading price of Bitcoin was close to $6,726on Monday.


    Adapted from: CoinTime Author: Suki Tang Executive editor: Nino
Declaration:The purpose of COINTIME in carrying out more information does not mean endorsing its view or confirming its description. The article is for reference only, does not constitute investment proposal. Investors operate on the basis of risk.
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