Norton Antivirus Introduces Etheurem Mining in Latest Update "Norton Crypto'.
The banning of the social media app Twitter in Nigeria piqued up the need for VPNs to access its server. One VPN service provider (and also antivirus provider) should also grab your attention as a cryptocurrency investor who needs tweets to keep up with information from the crypto space.
The antivirus and identity-theft-protection giant, NortonLifeLock, is offering a possible solution for anyone who is afraid of getting ripped off but has been considering dipping a toe into the cryptocurrency craze - letting its users turn their computers into crypto miners!
Norton Crypto is "a new feature designed to enable consumers to safely and easily mine cryptocurrency through its trusted Norton 360 platform," the company said in a press release on the 2nd of June.
Norton 360, at its core an antivirus program, already offers a password manager, a cloud-backup service, a VPN, and, via LifeLock add-ons, an identity-theft-protection service. The Norton Crypto feature will include both a coin miner and a cryptocurrency wallet.
"Customers can track and transfer earnings into their Norton Crypto Wallet, stored in the cloud so it cannot be lost due to hard drive failure. Select Norton 360 customers in Norton's early adopter program will be invited to mine for Ethereum, beginning tomorrow (June 3) Norton Crypto is expected to become available to all Norton 360 customers in the coming months."
The feature will sit alongside the more traditional tools – like those that aim to keep malware off a computer – and instead allow users to instruct their computer to put itself to work creating a new cryptocurrency. Crypto miners undertake complex and largely pointless calculations that are required to keep the system of cryptocurrency running. In return, those miners are occasionally rewarded with a new currency – meaning there is a financial incentive to mine as much as possible.
For the most part, that has been done in devoted mines, where vast sets of processors are strung together to do the calculations as quickly as possible. If individuals want to get involved, they often have to disable their security features and run code that might be unsafe and could steal their money, as well as storing earnings in other people’s systems.
Mining has mostly crossed over with malware because attackers sometimes plant malware in people’s computers that will hijack them and use them for mining so that cybercriminals can generate money using someone else’s processor and energy. But the new Norton feature will reverse that relationship, letting users put their computers to work mining cryptocurrency for themselves. Switching on the feature will start it mining ethereum, and users can deposit any money they generate into their Coinbase accounts, Norton said.
The company said that would be a useful way to keep their computer working even when they didn’t need it – though it will, of course, use additional energy.
“We are proud to be the first consumer Cyber Safety company to offer coin miners the ability to safely and easily turn the idle time on their PCs into an opportunity to earn digital currency,” said Gagan Singh, chief product officer at NortonLifeLock, in a statement. “With Norton Crypto, our customers can mine for cryptocurrency with just a few clicks, avoiding many barriers to entry in the cryptocurrency ecosystem.”
"There is a lot of innovation happening in the crypto economy that we continue to monitor. Initially, NortonLifeLock will be focused on top cryptos that allow our members to get the highest reward for their computing capacity. It is a very dynamic space that is changing every week and we will look at potentially adding other currencies in the future." commented Gagan Singh, chief product officer at NortonLifeLock, when he was asked if other cryptocurrencies could be mined
So Bitcoin, which has reached the point where it takes a huge amount of computing power to mine a single coin, may be out. Ethereum is all great and good, but that cryptocurrency is likely to turn off mining Ether tokens by the end of 2021 as it moves to its new "Ethereum 2.0" platform. It is well regarded — several Fortune 500 companies, including Microsoft, have a stake in it.