What is SocketMiner?

SocketMiner offers a Browser based web miner for the Monero Blockchain that you can embed on your websites anonymously. We utilize Monero as it is the most fitting for web based mining, and supports the underlying principles of privacy. Your visitors automatically run the miner in their Browser and mine XMR for you in return for an ad-free experience, on-site currency or whichever incentives you decide on.

We are excited to see how you will use our service. We dream about it as an alternative to micro payments, artificial wait time in online games, intrusive ads and dubious marketing tactics.

Your users can “pay” you with full privacy, without registering an account anywhere, without installing a browser extension and without being bombarded by shady ads. They will pay you with just their CPU power.

Why Do We Mine Monero?

Monero is different. To mine Monero, you have to calculate hashes with an algorithm called Cryptonight. This algorithm is very compute heavy and – while overall pretty slow – was designed to run well on consumer CPUs.

There are solutions to run the Cryptonight algorithm on a GPU instead, but the benefit is about 2x, not 10000x like for other algorithms used by Bitcoin or Ethereum. This makes Cryptonight a nice target for JavaScript and the Browser.

Of course, when running through JavaScript performance still takes a bit of a toll, but it's not that bad. Our miner uses WebAssembly and runs with about 65% of the performance of a native Miner. For an Intel i7 CPU (one of the fastest desktop CPUs) you should see a hashrate of about 90h/s. A native miner would get to 140h/s.

We'd like to further close this gap and are working on solutions to do so.

Will This Work On My Site?

Technically yes, economically it will vary. If you run a blog that gets 10 visits/day, the payout will be small. With a sensible hash goal (1024–16384) you'll need to have a whole lot of users to make this worthwhile.

Implementing a reward system for your site or game where users have to keep mining for longer durations is far more feasible. With just 10–20 active miners on your site, you can expect a monthly revenue of about 0.3 XMR (~$27).

If you run a streaming video site, a community site, an online game or anything else where you can give your users an incentive to run the miner for longer durations, then by all means: try it.

Fair Payouts

We pay per solved hash. The payout rate is adjusted automatically every few hours based on the global difficulty of the network and the average reward per block. The payout rate is calculated like this:

(solved_hashes/global_difficulty) * block_reward * 0.7 With the current network difficulty of 29.953G (updated Oct 31, 2017 - 12:59:25) and average block reward of 6.24 XMR: (/29952976511) * 6.24 XMR * 0.7 = 0.000146 XMR per 1M hashes

I.e. you get 70% of the average XMR we earn. Unlike a traditional mining pool, this rate is fixed, regardless of actual blocks found and the luck involved finding them. We maintain 30% to ensure our network is fast & secure while building new features.

We try to run this service with as much transparency as possible. If your users solve hashes, you get paid. Period. The minimum payout threshold is 0.05 XMR (~$4).

Payouts are fully automated and are initiated every 2nd hour, 12 times a day. If you reach the minimum payout threshold, you'll automatically receive your money in the next batch.

Our team usually gets back to requests with in 24 hours