Cybersecurity company NortonLifeLock has announced that it will launch a new service to allow users to securely extract Ethereum cryptocurrencies from personal computers through the company’s platform. “Mining” is the process of obtaining cryptocurrency using one’s computer
“Cryptography Mining” is about earning cryptocurrencies by solving cryptographic equations through the use of computers. This process involves “validating” data blocks and updating transaction records that occur in a public ‘Ledger’ known as a blockchain in real time.
Also read: Cryptocurrency ethereum is flourishing but the risk remains
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Mining cryptocurrency on one’s computer can be a risky business because it involves downloading software from unknown or unreliable sources. This is dangerous from a security standpoint in the form of malware and spyware, but these cryptocurrency tools can trick users into stealing some cryptocurrencies after they are ripped off. Norton Crypto should mitigate these risks, the company said Press release.
Another risk that cryptocurrency miners may face is the possibility of hardware failure. Even after successful Cryptographic Mining like Ethereum, Norton says many users store Wallet information locally. Although having a cryptocurrency in your local wallet is believed to be safer than staying online, many users do not back up their wallet and may lose their data if their hardware fails. Norton he argues that the data is more secure in the customer’s Norton Crypto wallet, which will be stored in the cloud.
According to the company, some Norton 360 customers who are part of the program that previously took over the company will be able to access the program from today. In the note, the company mentions that it will allow users to extract Ethereum, but we don’t know if the service will support other cryptocurrencies in the future.
Mining can be a very resource intensive cryptocurrency, and while Mining performs daily tasks it can slow down your computer by taking up most of the system resources. According to note, the company seems to be using the computer’s free time to extract cryptocurrency, so it has enough access to resources when it needs to be used for everyday tasks.
“As the crypto economy remains a more important part of our customers’ lives, we want to build a cryptocurrency conference with Norton, a trusted brand.” he said Vincent Pilette, CEO of NortonLifeLock. “Norton Crypto is another innovative example that we are expanding our Cyber Safety platform to protect the digital life of our customers’ ongoing evolution.”
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