Apple: No currency mining for you in our App Store thank you

Fears of battery drain make Apple ban cryptocurrency mining

Fears of battery drain make Apple ban cryptocurrency mining

In a recent update, the personal computing company expanded its initial guidelines on cryptocurrencies. That's 52.2 Million news homes for the wealth of App Store apps that are being created, under these new Apple guidelines. Earlier in the year, Apple removed Calendar 2 from the Mac App Store because the app would offer mining cryptocurrency on devices in exchange for premium features.

Background cryptocurrency mining processes which operate without user knowledge and without restriction can result in performance degradation and potentially lead to hardware problems if a device's components are being continually overworked - which, in turn, can be problematic for vendors.

Cloud-based mining allows the user to take advantage of a shared processing power which is generally run from data centers.

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Cryptocurrency mining is a process which requires a lot of computational power.

"Apps should not rapidly drain battery, generate excessive heat, or put unnecessary strain on device resources". Investors should do their due diligence before making any high-risk investments in Bitcoin or cryptocurrency.

Not that anyone would seriously use an iPhone to mine cryptocurrencies. The company's guidelines related to cryptocurrency were originally released in 2014, following the app store's decision to unlist Coinbase and other digital currency apps because of what it termed an "unresolved issue".

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"Apps facilitating Initial Coin Offerings ("ICOs"), cryptocurrency futures trading, and other crypto-securities or quasi-securities trading must come from established banks, securities firms, futures commission merchants ("FCM"), or other approved financial institutions and must comply with all applicable law", read the unchanged policy first unveiled in December.

Images courtesy of Shutterstock.

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