Why JSECOIN?

VISION:

All major cryptocurrencies currently rely on miners to carry out the cryptography hashing. Hashing is a mathematical equation that is carried out at large scale to secure a blockchain which is the underlying transaction database of a cryptocurrency. This process consumes huge amounts of computing power, server farms and electricity. Miners are rewarded for their efforts by the distribution of the currency.

It is possible to carry out SHA256 and other encryption in a standard web browser or on a mobile device. By embedding a javascript snippet on a website all visitors to the website could carry out the hashing encryption process which when combined at scale could​ ​replace​ ​the​ ​role of​ ​the​ ​miners​. Website owners would then be rewarded by the distribution of the currency. We have estimated 1 in 15 people either own or have access to a website which provides a large distribution and potential client base.

By using surplus CPU power huge energy and cost savings could be made over traditional cryptocurrency networks.

Environment:

Do you know what Cuba, Croatia and Sri Lanka all have in common? They all consume less
electrical power than the Bitcoin network (16.73 TW/hr as of September 2017).

The electrical resources used for mining are increasing at an uncontrollable and unsustainable rate. In the last 30 days the Bitcoin Network energy consumption has increased 0.8 TW/hr. To give some context the CERN large hadron collider which required its own power station consumes 1.3 TW/hr annually.

The higher the BTC price climbs the more incentive there is for industrial mining corporations to open new server farms where their only variable cost is electricity.

JSEcoin is different, it is mined using background resources within a web browser tab. The
additional power consumption when the device is in use is miniscule. The CPU usage for our
hashing algorithm is​ ​less​ ​resource​ ​demanding​ ​than​ ​the​ ​loading​ ​of​ ​a​ ​video​ ​advertisement.​
By using surplus CPU availability within the browser we can efficiently hash data at scale to
secure the JSE blockchain.

In the future all industries will need to move towards energy efficient technologies including
cryptocurrencies and fin-tech.

Webmasters:

JSE cryptography is providing a way for website owners to monetize​ ​their​ ​content​ as an
alternative to displaying ads. This may be preferable for sites where space is at a premium or
banner advertising is not appropriate. It could also be used in conjunction with existing
advertising methods as an additional revenue stream.

The code can be loaded as a post-page-load async process so it would not disrupt website
performance and the user experience would not be affected. The hashing would run in the
background, behind the scenes.

“Poor Quality” traffic which doesn’t earn ad revenue such as visitors from remote regions or some js enabled spiders could also be monetized for the first time. This could provide a foot in the door opportunity to test the program for larger media companies.

Technology:

The code snippet that website owners can install is an embedded external javascript file similar to common codes used for website analytics and advertising. A wordpress plugin is also now available which makes it really easy to install JSEcoin on a website. https://wordpress.org/plugins/jsecoin/

The javascript code loads at a set time after the page has finished loading preventing any performance delay and SEO page speed penalties. The public block data is sent to the website users browser as an Ajax response. This will be processed while they are reading the page and the most accurate hashes sent back to the server. The server will collect all the hashes compare, check, select the best and award/distribute coins.

In our speed tests the crypto.subtle browser API performed very well. Hash rates exceeded 30,000 hp/s in a single browser, while this is not comparable to ASIC hardware it is more than sufficient for what we need. Further increases could be made possible using custom WASM modules in the future. SHA256 is used as the main hashing algorithm. Elliptical curve seck256k1 cryptography is used for signing and verification.

Server-side code is written on Node.js meaning all code for the entire system is javascript.

The user platform integrates with the JSE network as a client providing a simple point of entry for everyday users.

Transactions are digitally signed within the browser and then sent to a node or server to verify. A blockchain explorer will be developed in Q3 2017.

JSECOIN - JavaScript Embedded Cryptocurrency

For more details:
Bitcoin Talk Davao