HomeLatest NewsNorton adds crypto mining service to its suite

Norton adds crypto mining service to its suite

A group of select Norton customers 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 perform cryptocurrency mining operations. The initial roll-out will comprise a service that targeting select early Norton 360 Suite users. The company has further specified that, in the coming months, it intends to expand the program to allow full use by all of its 13 million customers.

In launching this feature, the company dispels the notion that only big firms with several large server farms can conduct crypto mining operations.  Even with the lack of definite timelines for when other cryptocurrencies may join in, the statement suggested that the company would progressively consider other top digital currencies.

The new Norton product will enable users to mine crypto from their computers and with much-reduced risk. Typically, mining crypto requires users to disable security software which leaves them vulnerable. Speaking to CNN Business, Vincent Pilette, CEO of NortonLifeLock, noted that users having to allow untrusted codes to run on their devices exposed them to the risk of ransomware and other cyber threats.

Norton Crypto promises to provide much better security protocols that will ensure the users are shielded. As part of the blueprint to create a reliable way to mine, the company will also establish a cloud-based wallet. The digital wallet will be crucial to ensuring that user earnings are kept safe. It will eliminate the danger of loss of digital earnings since most users currently store their earnings in hard drives.

Gagan Singh, the chief product officer, expressed his joy explaining that the new product makes NortonLifeLock the first among cybersecurity firms to enable users to leverage their PC’s idle time to earn rewards. The NortonLifeLock executive also said the new system would expedite the crypto mining process. The technical complexities that often discourage potential miners will be effectively handled, allowing more users to mine crypto.

Ethereum is among the top cryptos in the world and sits just behind Bitcoin in terms of market capitalisation. NortonLifeLock may also embrace other reputable cryptocurrencies in the future. It would be reasonable to do so since Ethereum’s hash rate is no longer appealing to solo miners aiming to make profits.  Norton Crypto will additionally seek to exploit the current global shortage of semiconductors. Users may desire to migrate to PC-based crypto mining if it means not buying expensive mining hardware.

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