Apple’s IOS Devices
It has been a big day for Apple after announcing the banning of Cryptocurrency mining on their devices.
The statement highlighted that Cryptocurrency mining is no longer allowed on any of its iOS devices. This includes iPhones, iPads, and Macs. This is part of their new App Store guidelines that have just been launched. Although the ban was not directed at Cryptocurrency mining itself, by the very nature of what the mining does means that it is banned. The guidelines state that any app installed must not deplete a battery quickly, must not cause extreme temperatures/heat or add nonessential stress on the device. By simple default, Cryptocurrency mining does all of three of these things and is therefore prohibited. However, there is a single exception, and that is if the processing of the Cryptocurrency mining is completed via cloud-based mining.
Mining And Power
As is well known and a well-reported fact of late, Cryptocurrency mining is a huge power drainer whether on a device as outlined above or in a cryptocurrency mining factory. The latter of the two means that the local power grid gets battered. There have been several statistics thrown about confirming that cryptocurrency mining requires the same amount of power as Sweden does on a daily basis. Sweden is the current country; however, going on experience it will not be long before the comparison is made with a larger country. The reason behind the huge energy requirements is because of the way that cryptocurrency mining operates. The fact that the mining computers require a constant large power supply to continue to complete the necessary tasks is where the problem sits. It has been suggested that 1,400 watts’ worth of energy is generated from mining on a computer. This is a huge amount and as you can imagine has vast implications on a mobile device or Mac.
You Still Can
However, it must be noted that these new guidelines do not go as far as banning electronic wallets. There is one exception to this rule, which is if a wallet is registered as an organization. Furthermore, on certain approved exchanges transactions can take place. ICOs are also still allowed although the ICO must derive from either a bank or a financial institution that is approved by Apple. The final point to note is that Cryptocurrency apps are not able to use Cryptocurrencies in exchange for any other product which includes downloading apps or using social media.
The Apple announcement today follows on from Opera installing Cryptocurrency mining protection at the beginning of 2108. The protection sits on the software’s mobile and desktop versions.
There is a genuine concern by many providers and suppliers about the power required for Cryptocurrency mining and this has only been highlighted further today. When large global companies such as Apple banned on, other large entities are usually
Quick to follow. There is also the added concern that hacking is now becoming a lot more prevalent and fraud cases are now a daily occurrence. It will be interesting to see the fallout out and the ripples that come from today’s big announcement. Although it is expected that other large corporates will follow suit.