|Cryptocurrency / Photo by: Wit Olszewski via Shutterstock|
Apple issued new guidelines prohibiting cryptocurrency mining apps on the Apple Store. The new rules specifically state that apps cannot be used in mining cryptocurrencies unless the mining is done on cloud or off-device. Furthermore, under the updated guidelines, only established banks, securities firms, futures commission merchants, or other approved financial institutions, can conduct initial coin offerings, according to Jonathan Greig, reporting for TechRepublic.
On the other hand, apps that run cryptocurrency trades are not covered by the guidelines but such apps cannot offer cryptocurrency for completing tasks, such as downloading other apps, encouraging other users to download or making posts on social networks.
One of the reasons why Apple barred cryptocurrency mining apps from its online store is to prevent digital coin miners from taking advantage of cellphone battery life. Apple is keen on improving iPhone battery life, and its iOS 12 offers users more insight into battery use. The computer giant has also made online security a prominent issue during its Worldwide Developer Conference and previewed a new feature called “Intelligent Tracking Prevention” which thwarts websites from monitoring online use when a user browses the Internet. It also pulled the Calendar 2 app from the Apple Mac Store after it was discovered that the app had features that allow users to mine the monero digital currency.
Apple is the latest technology company to ban cryptocurrency mining on its platform. Previously, Facebook outlawed the said activity on its platform in January 2018 while Google followed suit six months later. The latter also banished cryptocurrency mining extensions that were swirling on the Chrome web store that exploited unsuspecting users by hijacking their devices to mine digital coins secretly and sell their personal information.