Vision
Our ambition is to create an energy efficient cryptocurrency mined by webmasters which is
adopted globally by mainstream users.
All major cryptocurrencies currently rely on miners to carry out the cryptography hashing.
Hashing is a mathematical equation that is carried out at large scale to secure a blockchain
which is the underlying transaction database of a cryptocurrency. This process consumes huge
amounts of computing power, server farms and electricity. Miners are rewarded for their efforts
by the distribution of the currency.
It is possible to carry out SHA256 and other encryption in a standard web browser or on a
mobile device. By embedding a javascript snippet on a website all visitors to the website could
carry out the hashing encryption process, which when combined at scale could replace the role
of the miners. Website owners would then be rewarded by the distribution of the currency. We
have estimated 1 in 15 people either own or have access to a website which provides a large
distribution and potential client base.
By using surplus CPU power, huge energy and cost savings could be made over traditional
cryptocurrency networks
Environment
Do you know what Morocco, Ireland and Sri Lanka all have in common? They all consume less
electrical power than the Bitcoin network (29.05 TW/hr as of November 2017 *).
The electrical resources used for mining are increasing at an uncontrollable and unsustainable
rate.
The higher Bitcoin’s price climbs, the more incentive there is for industrial mining corporations
to open new server farms where their only variable cost is electricity.
JSEcoin is different, it is mined using background resources within a web browser tab. The
additional power consumption when the device is in use is miniscule. The CPU usage for our
hashing algorithm is less resource demanding than the loading of a video advertisement. By
using surplus CPU availability within the browser we can efficiently hash data at scale to secure
the JSE blockchain.
In the future, all industries will need to move towards energy efficient technologies, including
cryptocurrencies and fin-tech.
JSE cryptography is providing a new way for website owners to monetize their content as an
alternative to displaying ads. This may be preferable for sites where space is at a premium or
banner advertising is not appropriate. It could also be used in conjunction with existing
traditional advertising methods as an additional revenue stream.
The code snippet is copied and pasted from the platform on to a publishers website(s).
JSEcoin is a 100% opt-in only platform. No mining is carried out without the end users consent.
Our project never has and never will partake in hidden background mining.
The javascript is loaded as a post-page-load async process so it will not disrupt website
performance and the user experience is not affected.
“Poor Quality” traffic which doesn’t earn ad revenue such as visitors from remote regions can
also be monetized effectively for the first time. This provides a foot in the door opportunity to
test the program with larger media companies
Transparency
Transparency is paramount to our future success. JSEcoin has never carried out hidden
background cryptocurrency mining. It is essential to inform users that the mathematical hashing
process is running and the website is monetized via cryptography. For this reason we run an
opt-in only mining system. A user must give consent before mining starts.
We do this much like the cookie declaration in Europe. A pop up message is displayed at the
bottom of the web page before hashing starts.
An additional benefit to displaying the privacy message is that it puts the JSEcoin logo in front
of millions of unique visitors per day. This could help lead to exponential growth in the project.
The code running on the users browser is not resource intensive in the same manner as
traditional GPU and CPU mining programmes. The additional CPU usage and power
consumption will be negligible because the code only consumes excess CPU power available to
the browser.
The project is governed by a UK registered business and transparency is paramount to building
trust with our users. This is why we publish monthly accounts on the website and uphold the
highest ethical standards in everything we do.
You can continue reading the full whitepaper at https://jsecoin.com/whitepaper.pdf