Category Archives: Google Play

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Google Play Follows Apple’s Lead and Bans Crypto Mining Apps

Google has updated its Play Store policy which will now bar all mining apps. The latest update follows a similar move made by Apple last month.

Apple’s new guidelines stipulated:

“Apps may facilitate transactions or transmissions of cryptocurrency on an approved exchange, provided they are offered by the exchange itself. Cryptocurrency Apps may not offer currency for completing tasks, such as downloading other Apps, encouraging other users to download, posting to social networks, etc.”

Google has followed suit by no longer allowing cryptocurrency miners on the Play Store. Many are currently available on the Store including apps such as MinerGate, Crypt Miner, NeoNeonMiners and countless others. Mining extensions were already prohibited from the store earlier this year. The new policy states:

“We don’t allow apps that mine cryptocurrency on devices. We permit apps that remotely manage the mining of cryptocurrency.”

However, the ban does not take in all software involved with mining virtual cash. Both Google and Apple have said that they would allow users to design apps for managing mining being done elsewhere – such as on cloud computing platforms.

Both the moves by Apple and Google follows some negative apps-related press from a range of sources recently particular regarding crypto mining. Russian cyber security company Kaspersky Lab reported recently of a huge 44.5 percent spike in crypto jacking over the past year.

Cryptojacking is defined as the secret use of your computing device to mine cryptocurrency. The hacking occurs when the victim unknowingly installs a program on a user’s computer which secretly mines cryptocurrency.

Also another report by Skybox Security that ransomware is fat being taken over by illicit currency mining od this nature, suggesting that miners now represent 32 percent of all cyber attacks.

Google has not simply targeted cryptocurrency, as its new developer policies have also included “multiple apps with highly similar content and user experience,” targeted at repetitive content, and “apps that are created by an automated tool, wizard service, or based on templates and submitted to Google Play by the operator of that service on behalf of other persons.”

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Coinbase Maintains Optimism Despite Recent Popularity Slide

Crypto exchange giant Coinbase is reported to have recorded a decline in popularity over the past month, according to Ethereum World News.

The downturn in business correlates to a decline in app downloads since the recent fall in the global cryptocurrency market, where prices have suffered a 70% drop over the past six months.

The result is that short-term speculators are looking elsewhere for business and app downloaders have bypassed the Coinbase app, which at its peak was a go-to item in Apple and Google Play apps stores. According to Quartz, Coinbase app downloads have reached their lowest level in the US since last April when Bitcoin was selling at USD 1,250. At one point last year, Coinbase was one of Apple’s most downloaded apps.

Other statistics indicate that the Coinbase online platform has experienced a similar downturn with monthly visits to the site dropping from 126 million in January to 28 million in June with its other platform GDAX losing a further 5% than the parent company.

Despite Coinbase’s recent declining fortunes, the company is continuing its expansion, bringing new products to the market and recently opening an office in Portland, Oregon which has plans to hire over 100 employees.

Coinbase is an “open financial system that is not controlled by a central power”, maintains Coinbase CEO Brian Armstrong who clearly remains upbeat and optimistic. His recent Tweet explained that he sees such slides as simply part of the overall crypto landscape:

“The crypto industry is like no other I’ve seen – lots of up and down cycles (reaching a new plateau each time). There have been 3 or 4 of these now. It can be scary the first time you see it, but to us who have been in the industry for many years, it feels like old news.”

However, another exchange giant, Binance, has seen its fortunes turn out to be quite a different story, with its user base going from strength to strength, experiencing a massive five times expansion since the beginning of the year, and is predicted to bring in USD 1 billion by December.

 

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