College campuses are the second-largest mining sector, research shows
March 6, 2019, 8:04AM EST
1 min read
A study carried out by Cisco security researchers has shown college campuses comprise the second largest cryptocurrency mining sector. According to the research, it is responsible for approximately 22 per cent of the mining. The research points to college students who most likely decide to benefit from free electricity at their dorms.
"Mining difficulty for a lot of coins is very high right now—which means it costs more for electricity and internet than the profit you can produce from mining those coins," said Austin McBride, Cisco researcher. "If you don't have to pay for those costs, then you are in a really good spot for making money on the university's dime."
Since mining is “quite distributed,” it suggests many students are engaging in mining. However, some might be doing it unconsciously if they have fallen victim of crypto-jacking.
Similarly, since the energy and utilities sector is responsible for approximately a third of all cryptocurrency mining, it is likely computers used in this sector are infected with mining malware. Due to their purpose design, many might get fewer software and hardware updates, making them more vulnerable to potential attacks.
From the removal of many Russian banks from SWIFT to a seemingly constant flow of new sanctions, Russia’s invasion of Ukraine has left many to wonder: Is the country likely to lurch towards cryptocurrencies? And if so, what does this mean for businesses that are holding and/or using crypto? Crypto and sanctions evasion Although crypto […]
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.