Norton customers and cryptocurrency enthusiasts have been surprised by this announcement from one of the world’s most widely-used most widely-used anti-virus software companies.
The company has just announced that Norton 360 users will gain access to a feature that allows them to mine Ethereum with their computers within the next few weeks. With this feature, users will be able to mine cryptocurrency, a process that uses their computer to do complicated calculations that earn them a reward in Ethereum cryptocurrency.
This is a major pivot from the software’s previous days of identifying common mining programs as dangerous, forcing users turn off their security software in order to continue mining.
A Better Mining System
It can be very difficult for individuals to mine Ethereum, but Norton’s announcement suggests that their software will use a pool system. With this model, many miners would combine their computing power and split the reward at the end.
This model would take advantage of Norton’s millions of users in order to create a new source of income for users and the company.
In a statement, Norton product executive Gagan Singh mentioned that this system will remove many of the barriers to entry in cryptocurrency mining, allowing customers to enter the ecosystem more easily.
Norton’s new proposal offers a variety of potential options for income, but there may be drawbacks involved as well.
Firstly, the mining process uses a large amount of energy. Depending on how the system is structured, this may create higher energy bills for consumers who may not expect it.
In addition, consumers may not know that cryptocurrency income is taxable and reportable in the U.S., causing a potential hassle for customers who may not expect it.
Norton would be the first cyber-security company to introduce a cryptocurrency mining system like this to its customers, creating a potential for new possibilities in the future.