A group of select Norton customers can now mine Ethereum thanks to a new crypto offering, Norton Crypto
In a statement released yesterday, NortonLifeLock announced that it plans to allow users to conduct cryptocurrency mining operations. The initial rollout will include a service that will target select early adopters of the Norton 360 suite. The company has further specified that it intends to expand the program in the coming months so that it can be used in full by all of its 13 million customers.
With the introduction of this feature, the company dispels the notion that only large companies with multiple large server farms can conduct crypto mining operations. Despite the lack of definitive schedules for other cryptocurrencies to join, the statement indicated that the company would gradually consider other top digital currencies.
The new Norton product will allow users to mine crypto from their computers with greatly reduced risk. Typically, mining crypto requires users to disable security software, which makes them vulnerable. Speaking to CNN Business, NortonLifeLock CEO Vincent Pilette noted that those who run untrusted code on their devices put them at risk of ransomware and other cyber threats.
Norton Crypto promises to provide much better security protocols that ensure users are shielded. As part of the blueprint to create a reliable path to mining, the company will also set up a cloud-based wallet. The digital wallet will be vital in ensuring that users’ earnings are safe. It will eliminate the risk of losing digital revenue as most of the users currently store their earnings on hard drives.
Gagan Singh, Chief Product Officer, expressed his delight and stated that NortonLifeLock’s new product is the first among cybersecurity companies to allow users to use the idle time of their PC to earn rewards. The NortonLifeLock manager also said the new system would speed up the crypto mining process. The technical complexity that often turns potential miners off is handled effectively, allowing more users to mine crypto.
Ethereum is one of the top cryptos in the world and is just behind Bitcoin in terms of market capitalization. NortonLifeLock may also include other reputable cryptocurrencies in the future. This would be reasonable as Ethereum’s hash rate is no longer attractive to solo miners looking to make a profit. Norton Crypto will also try to exploit the current global shortage of semiconductors. Users may want to migrate to PC-based crypto mining if that means not buying expensive mining hardware.