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A Mining Town in a Digital Land: Browser-Based Cryptocurrency Mining as an Alternative to Online Advertising

Author

Listed:
  • Alper Yayla

    (University of Tampa)

  • Ersin Dincelli

    (University of Colorado Denver)

  • Srikanth Parameswaran

    (Binghamton University)

Abstract

Advertising has been the most common strategy for content monetization. However, behavioral data collection for personalized advertisements has raised privacy concerns. This study explores users’ perceptions of browser-based cryptocurrency mining (BCM) as an alternative content monetization method to online advertising. The mining process is an essential part of blockchain technology, but it is a resource-intensive process. By utilizing BCM, content providers can mine cryptocurrency on the computers of website visitors and provide free or discounted services for the cost of the mining process. Considering that BCM revenue can be comparable to online advertisement while preserving user privacy at a negligible cost, we explored underlying factors affecting the adoption of BCM. We conducted a qualitative exploratory study using linguistic analysis and topic modeling of data collected from an online focus group. The results revealed that users raised security concerns and resisted BCM adoption due to its negative image and potential risk barriers. Our results further showed that online advertising benefits from the status quo bias. That is, although users raised both privacy and security concerns, they still considered online advertising. We extend the literature by analyzing controversial technology in the light of incumbent technology and provide directions for implementing BCM as a successful revenue stream.

Suggested Citation

  • Alper Yayla & Ersin Dincelli & Srikanth Parameswaran, 2024. "A Mining Town in a Digital Land: Browser-Based Cryptocurrency Mining as an Alternative to Online Advertising," Information Systems Frontiers, Springer, vol. 26(2), pages 609-631, April.
    • Handle: RePEc:spr:infosf:v:26:y:2024:i:2:d:10.1007_s10796-023-10386-6
    DOI: 10.1007/s10796-023-10386-6
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