Cybersecurity firm NortonLifeLock announced the launch of Norton Crypto through a press release on its website last Wednesday, June 2. This feature is designed for customers to safely and easily mine cryptocurrency using their desktops and a Norton 360 platform.
‘As the crypto economy continues to become a more important part of our customers’ lives, we want to empower them to mine cryptocurrency with Norton, a brand they trust,’ said Vincent Pilette, the chief executive officer of the cybersecurity firm.
The firm invited select customers to mine Ether (ETH) tokens through its Norton 360 crypto platform as part of its early adopter program. At the moment, customers are only allowed to mine for Ethereum’s native tokens.
‘Norton Crypto delivers a secure, reliable way for consumers to mine for Ethereum without opening themselves and their devices up to these pitfalls,’ said NortonLifeLock in its press release.
‘Once cryptocurrency has been earned, customers can track and transfer earnings into their Norton Crypto Wallet, which is stored in the cloud so it cannot be lost due to hard drive failure,’ the company added, emphasising the platform’s secure encryption for its new crypto services.
According to a report by CoinDesk, the Norton mining pool only allows low volume ETH crypto mining on user’s personal computers. The Norton Crypto feature applies its computation power on desktops and laptops with the Norton 360 program, according to one of the company’s spokespersons.
NortonLifeLock will pay out miners periodically based on the user’s participation and the number of shares credited in their Norton 360 accounts. The payouts will be wired to either a Norton crypto wallet or a personal one designated by the miner in their anti-virus program.
Moreover, the mined coins can also be tracked and extracted to Norton users’ Coinbase accounts, according to a report by CoinDesk.
The cybersecurity company hopes to expand these services to approximately 13 million users in the coming months.
Currently, only coins built on the Ethereum platform can be mined with Norton 360 but the company is planning to expand their list of available cryptocurrencies for mining in the future.
The miners using the Norton 360 crypto program are required to pay 15% of the total ETH they have mined, as stated in Norton’s terms and conditions. Moreover, users should also account for additional electricity costs and crypto fluctuations amid the ETH slump in recent days.
As of press time, Ether trades at US$2,767.90 with a market cap of US$321 billion. Ethereum’s native coin staggered from its all-time high of US$4,382 alongside Bitcoin’s volatile prices brought by Tesla’s TechnoKing Elon Musk’s cryptic tweets and the recent China ban on cryptocurrencies.
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