Apple Blocks Crypto Mining Apps On Its Products

A man walks past an electric board showing exchange rates of various cryptocurrencies including Bitcoin at a cryptocurrencies exchange in Seoul South Korea

Apple just released a new set of guidelines for iOS app developers, with a number of changes that impact the world of cryptocurrency. The rules appear to be an attempt to nip any kind of "crypto-jacking", an increasingly common scam that hijacks a small portion of a users' device to mine cryptocurrency without them realizing.

The company went further than simply prohibiting mining elsewhere in its new guidelines by including other new rules pertaining to cryptocurrency. As per Apple Insider, Apple's crypto-related guidelines were originally created in 2014 after the app store unlisted Coinbase and other cryptocurrency apps stating some unresolved issue.

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

In the Library tab, you can peruse your full collection of books with large, easy-to-see cover art, including the books downloaded to your device and a Finished section showcasing the books you have read in the past and the date you finished them, displayed in a timeline. It should be noted that the upcoming smartphones such as HTC Exodus and the Sirin Finney that support Blockchain will also not be able to have power to handle cryptocurrency mining. It can generate excessive heat and put a serious strain on the resources of a device - all the things Apple wants to restrain.

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It's also worth noting that Apple's move explicitly targets apps intended for cryptocurrency mining and others which drain your device's battery rapidly.

Addressing the rising frauds with the unregulated initial coin offering-based (ICO) fundraising technique, Apple is now only allowing apps from established banks, securities firms, futures commission merchants ("FCM"), or other approved financial institutions.

The iPhone isn't a great cryptocurrency miner, especially compared to special mining machines, but that doesn't mean that a surreptitious app couldn't mine tokens like Monero in the background.

Featured image from Shutterstock.

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