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Apple bans mining cryptocurrency on iPhones (AAPL)

13 June 2018

Because the App Store is the only way for most people to install software on their iPhones, Apple's new rule also suggests that there may not be any purpose-built apps to mine cryptocurrency either - not that any of these apps would really make any money for users. Apple's updates to the App Store guidelines now prohibit developers from making databases of info gleaned from address books, nor can they request access to contact info under one pretense and then use it for something else - they have to get consent for what they're actually using it for.

Preventing cryptocurrency mining is crucial on iOS because this untethered mining operations can easily overheat or destroy batteries -or even devices if the battery case deforms, leaks, or catches fire.

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 requires special, powerful hardware that can solve complex mathematical formulas, which verify a cryptocurrency transaction in the Blockchain.

The update also attempts to halt rising concerns referred to as phone cryptojacking.

The move allows US iPhone users to share their health record data with third-party apps from autumn. Some apps and online publications, for example, have taken to using users' system resources to mine cryptocurrency in the background while they use the app or service - sometimes without their permission.

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But it's perusing the whole situation with a careful eye, noting that Initial Coin Offerings and other investments in digital money will need to come from established banks and securities firms, and approved financial institutions.

The iPhone maker's updated App Store Review Guidelines ban applications that "collect information about which other apps are installed on a user's device for the purposes of analytics or advertising/marketing".

Featured image from Shutterstock.

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Apple bans mining cryptocurrency on iPhones (AAPL)