A group of selected Norton clients can now Mine Ethereum, Thanks to a new crypto offering, Norton Crypto
In a released statement, NortonLifeLock announced yesterday that it plans to allow users to mine cryptocurrencies. The initial rollout will include a service aimed at select early users of the Norton 360 Suite. The company has further stated that it intends to expand the program in the coming months to allow full use to all of its 13 million customers.
With the introduction of this feature, the company is cleaning up with the notion that only large companies with several large server farms can do crypto mining. Even though there is no definitive timeline for when other cryptocurrencies will be added, the statement suggests that the company will gradually consider other top digital currencies.
The new Norton product allows users to mine cryptocurrencies from their computers-with significantly reduced risk. Typically, cryptocurrency mining requires users to disable security software, making it vulnerable to attack. Speaking to CNN Business, Vincent Pilette, CEO of NortonLifeLock, noted that users who allow untrusted codes to run on their devices expose themselves to the risk of ransomware and other cyber threats.
Norton Crypto promises much better security protocols that ensure users are shielded. As part of the plan to create a reliable way of mining, the company will also set up a cloud-based wallet. The digital wallet will be critical to keeping users ‘ earnings safe. It will eliminate the risk of losing digital revenue, because currently most users store their revenue locally on hard drives.
Gagan Singh, the chief product officer, expressed his joy, explaining that with the new product, NortonLifeLock is the first company among cybersecurity firms to allow users to use their PC’s idle time to earn rewards. The NortonLifeLock manager also said that the new system would speed up the crypto mining process. The technical complexities that often deter potential miners are handled effectively, allowing more users to use cryptomining.
Ethereum is among the top cryptocurrencies in the world and is just behind Bitcoin in terms of market capitalization. NortonLifeLock may include other reputable cryptocurrencies in the future. This would make sense as Ethereum’s hash rate is no longer attractive to solo miners looking to make profits. Norton Crypto will also seek to exploit the current global shortage of semiconductors. Users may want to switch to PC-based crypto mining if it means they don’t have to buy expensive mining hardware.