Apple Bans Cryptocurrency Mining on iPhone

Apple Bans Cryptocurrency Mining on iPhone

Blockchain Cryptocurrency News
June 12, 2018 by Sandra Onyeiwu
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Apple recently announced new restrictions on the use of cryptocurrencies on iPhones and iPads as pointed out by AppleInsider. The tech giant has recently updated its developer guidelines to ban mining cryptos. It appears though that Apple is not happy with users of their devices undertaking this practice. The new rules introduce more app restrictions, targeting
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Apple recently announced new restrictions on the use of cryptocurrencies on iPhones and iPads as pointed out by AppleInsider.

The tech giant has recently updated its developer guidelines to ban mining cryptos. It appears though that Apple is not happy with users of their devices undertaking this practice.

The new rules introduce more app restrictions, targeting those that deplete battery life, generate excessive heat, or accentuate system resources. Although Apps are still allowed to facilitate cryptocurrency transactions but mining operations are now forbidden.

Apple says that “applications, including third-party ads that are displayed on them, may not run unrelated processes in the background, such as cryptocurrency mining.”

Now, Apple has finally presented a complete section on cryptocurrencies in its guidelines that applies to iOS, macOS, watchOS and tvOS applications. It Establish five rules:

  1. Apple will allow virtual currency wallet apps, as long as they’re offered by developers who are enrolled as organizations.
  2. The only cryptocurrency mining apps allowed are those that mine outside of the device, like cloud-based mining.
  3. Apps can help users make pay, trade, or receive cryptocurrency on an approved exchange, but the apps must be from the exchanges themselves.
  4. Similarly, apps involved in initial coin offerings, bitcoin futures trading, or other cryptocurrency securities trading need to be from the banks, firms, or other approved financial institutions. And they must be lawful.
  5. Cryptocurrency apps can’t offer users virtual coin for tasks like downloading other apps, getting other users to download the app, or boosting social media activity.
    In addition, Apple is giving its full support to cryptocurrency wallet apps, as long as they are “offered by developers enrolled as an organization.”

According to CNBC it’d be difficult to use an iPhone or iPad to mine cryptocurrency, given the amount of power it takes. Cryptocurrency “mining” is essentially math often done by high-powered computers.  It requires transactions to be verified via solving complex math problems and equations so that the blocks can be added to the blockchain. And each mining rig generates about 1,400 watts.

Although Apple’s rules apply to all apps within the App Store, Macs and jailbroken iPhones will still be able to mine cryptocurrency outside of Apple’s walled garden.

 

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