financemagnates.com
NortonLifeLock (NASDAQ: NLOK), a major cybersecurity company behind the antivirus software Norton 360, has announced its inception into crypto mining by launching a feature that enables the platform to mine Ethereum (ETH). Together with the new solution, the firm also launched Norton Crypto Wallet, which will store digital assets in the cloud.
According to the press release, the suite of Norton Crypto products is expected to be available for all Norton 360 users in the coming weeks. However, NortonLifeLock clarified users need to comply with specific PC requirements to use the ETH mining feature.
“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. Norton Crypto is yet another innovative example of how we are expanding our Cyber Safety platform to protect our customers’ ever-evolving digital lives,” Vincent Pilette, CEO of NortonLifeLock, commented.
The US-listed cybersecurity company said crypto mining earnings would be stored on the cloud to prevent losses due to hardware failures. Also, it added that the suite of products aims to avoid risks from handling cryptocurrencies, such as security breaches triggered by ransomware.
Will It Be Free?
“We are proud to be the first consumer Cyber Safety company to offer coinminers the ability to safely and easily turn the idle time on their PCs into an opportunity to earn digital currency. With Norton Crypto, our customers can mine for cryptocurrency with just a few clicks, avoiding many barriers to entry in the cryptocurrency ecosystem,” Gagan Singh, chief product officer at NortonLifeLock, said.
CNN reported that although the company only mentioned ETH in the press release, it’s expected to see more crypto assets be added in Norton Crypto. Moreover, a report from PC Mag suggested that Norton Crypto could not be free, as NortonLifeLock plans to charge fees on mining.