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Another Cryptocurrency mining service, Coinhive buckles under the pressure of the Crypto Winter and will soon be shutting down, citing economical inviability as the reason behind the decision. The same was announced by the team in a blog post on Feb. 26.
As per Coinhive’s announcemet, the mining service will stop its operations on March 8, 2019. The users would be able to access their dashboards until April 30, 2019. Amongst other reasons, the developers point out the 50 percent drop in hash rate following the last Monero (XMR) hard fork, as a key issue.
Reportedly, the Drop of XMR’s value by over 85 percent within a year, has been affecting the service negatively. The post reads:
“This and the announced hard fork and algorithm update of the Monero network on March 9 has to lead us to the conclusion that we need to discontinue Coinhi...
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