Definition - What does Cryptojacking mean?

Cryptojacking is the unauthorized use of computing resources to mine cryptocurrencies. The idea is that a smart system can utilize the resources of visiting devices or end users to contribute to bitcoin mining or other similar mining efforts. The use of cryptojacking is spurring enormous controversy over the appropriate use of shared resources and interactions between digital parties.

Cryptojacking is also known as cryptomining malware.

Techopedia explains Cryptojacking

Using various types of hacks and programs, individuals performing cryptojacking can divert visiting devices from their intended use, or pilfer energy in the background of a digital transaction. Experts point to a Monero miner called CoinHive as an example of cryptojacking technology. The practice of cryptojacking has been seen as illicit redirection of device activity, and as a “resource drain,” prompting security system makers to block technologies that accomplish cryptojacking objectives. The future of cryptojacking, in the bitcoin age, will be instructive about the limits of what is socially acceptable in cryptocurrency mining.

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