Google has announced that it will no longer accept extensions that mine cryptocurrency on its Chrome Web Store. What that means is that Google will no longer allow extensions that mine cryptocurrency on its Chrome Web Store from later June. On the other hand, Extensions with blockchain-related purposes other than mining will continue to exist in the Web Store.
The company said such extensions have overtime demonstrated capabilities that have attracted malicious software developers who attempt to abuse its platform at users’ expense. The policy, according to Google, is aimed at ensuring that Chrome users “enjoy the benefits of using extensions without exposing themselves to hidden risks.”
“Starting today, Chrome Web Store will no longer accept extensions that mine cryptocurrency. Existing extensions that mine cryptocurrency will be delisted from the Chrome Web Store in late June. Extensions with blockchain-related purposes other than mining will continue to be permitted in the Web Store.”
Apparently, it is a case of breach of trust, with Google revealing that 90 percent of extensions that include mining script do not follow its rules. This has given Google no other choice but to ban mining extensions from its Chrome Web Store.
Google’s decision follows a similar move it made over cryptocurrency ads on its platform from June.
The ban will also affect all initial coin offerings (ICOs), wallets, and trading advice on its AdWords platform. Speaking to CNBC on plans to ban cryptocurrency-related ads on its AdWords platform, Scott Spencer, director of sustainable ads at Google said:
“We don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.”
Sadly, the ban is a blanket one that will also affect companies with legitimate cryptocurrency offerings—such companies, according to the new update made to Google’s financial services-related ad policies, will no longer be eligible to serve ads through Google’s ads products.
It appears cryptocurrency is the magic word that is gradually taken over everything we do online these days. We bump into it every day—but that is not the problem; it is actually dealing with the dishonest individuals who try to take advantage of unsuspecting people that worries me a lot. Twitter recently noticed this and has not only issued a warning to those involved, but has actually started doing something about it.
Twitter is already taking steps to purge its platform of the amount of cryptocurrency scams blowing like wildfire. It had to be now because names of important personality such as John McAfee, Elon Musk and the likes are now being used by scammers to deceive people on Twitter. The scammers use misleading tactics like a little misspelling of a username or use avatar similar to the verified account, telling unsuspecting followers to send them a token of currency to receive a bigger amount in return.