NortonLifeLock Inc which was formerly called “Symantec Corporation” is an American software company with its headquarter in Tempe, Arizona, United States.
It offers cybersecurity software and services.
NortonLifeLock is a Fortune 500 company and also part of the S&P 500 stock-market index.
It also has some development centers in Pune, Chennai, and Bangalore.
Now, the company now allows users to Mine Ethereum
NortonLifeLock Now Lets Users Mine Ethereum
NortonLifeLock has included an Ethereum mining feature to Norton 360, which is its flagship antivirus software.
The latest feature will be available to some particular users of the early adopter program of the company.
In the crypto world, mining is the energy-intensive process of manufacturing more of a cryptocurrency. Let us take Ethereum and Bitcoin for example. They both need specialized computers to run continuously to mine each of the assets.
And to promote this service, users who participated in the early adopter program will be asked to mine Ethereum. Ethereum is the world’s second-largest cryptocurrency by market cap.
The company also mentioned that the feature would be accessible by all its customers in weeks from now.
Including a built-in miner to antivirus software may be an unconventional step. Yet, the company asserts that for so many years miners sacrificed their security to operate “unvetted code on their machines”.
And this may lead to the theft of the earnings “or even planting ransomware”.
Following what NortonLifeLock said, another risk is that miners often keep their earnings on hard drives directly, “where their digital wallet could be lost”.
NortonLifeLock claims to look into the problem providing “a secure, reliable way for consumers to mine for Ethereum without opening themselves and their devices up to these pitfalls”.
Rather, it would keep users’ newly-minted coins “in the cloud so it cannot be lost due to hard drive failure”. Well, the company didn’t answer all questions.
Is the Feature Free?
We do not really know if the feature will be free. NortonLifeLock hasn’t explained any questions around the private key management. or even the ability to transport mined coins to a third-party wallet.
Also, private keys can come in different forms. And the most popular is a 12- or 24- word seed phrase that users need to have access to their crypto wallets. Without private keys, you cannot access a crypto wallet.
The wide majority of miners join efforts, with pooled mining providing so many opportunities for profitable operations.
Mining Ethereum may basically change following the transition of the network to the proof-of-stake model. The model provides more strength to those miners who hold.
And also stake more of their cryptos in the network instead of the miner who has got the biggest mining farm. It interchanges both machines and energy for economic incentives.
NortonLifeLock hasn’t said anything concerning their latest service and how it would react to this shift as well.