By 2030, studies show that blockchain technology is expected to lift the global GDP up by two trillion US dollars. As more countries are setting trends in cryptocurrency implementation and development, Norton 360 recently released a feature for mining the cryptocurrency Ethereum with its cybersecurity package, check Norton Early Access Program Community forum.
Most antivirus providers would rather have consumers staying away from products or services that are too complex, untraceable, and decentralized — like cryptocurrencies. When users download cryptocurrency mining programs, antivirus software mistakenly detects these unvetted lines of code as cyber attacks. This usually prompts users to disable security in order to allow the mining programs to run, which opens up the computer to more cybersecurity risks
Instead of constantly fighting off cryptocurrency programs a user may download, Norton has developed their own mining application, making it easier and safer for more people. Norton Crypto will let users mine Ethereum, the world’s second most valuable cryptocurrency, on ordinary laptops and computers.
The problem with crytocurrency
In order to mine cryptocurrency, you need highly specialized computers to do the job. Cryptocurrency mining works by using a computer’s hardware to perform complex calculations in exchange for a reward. You need to build a ‘mining rig’ that will compute and verify crypto transactions for a higher chance of profit. However, this process uses a lot of energy because the computers are constantly working to solve the computational problems.
This is why a state-of-the-art, customized PC is necessary to perform computationally intensive mining tasks. It would have common elements like the CPU, RAM, and storage, but also graphics cards (GPUs). These GPUs are doing the hard work of mining, rather than a CPU. Crypto miners would need to connect hundreds of powerful GPUs to a single system in order to increase the odds of getting an Ethereum coin.
The GPUs also need a motherboard that can handle them; the motherboard should be customized to meet those functions as well, because not every circuit board follows the same rules to utilize their full potential. For example, some boards may need bigger holes to fit certain components, while others require set distances between pins to support specific features. If you’re mining Ethereum, which requires 62.56 kWh per transaction, you may also need energy-optimizing features like overvoltage protection to support the GPUs running 24/7.
The solution: pooling
To solve this problem, Norton 360 will utilize a pooling system to improve the odds of receiving a coin. Rather than a solo miner relying on high-end computing hardware and luck to get rewards, Norton envisions a pool of miners coming together to contribute whatever computing power they can offer. Afterwards, they can share rewards based on individual contributions.
Once the cryptocurrency has been earned, users can then pull all the accumulated coins into a cloud-based wallet called Norton Crypto Wallet until they can make the transfer. This allows miners to keep their earnings secure. Currently, Norton Crypto will only be available to a small group of customers as it gradually expands its rollout in the coming months. Norton is also considering adding other cryptocurrencies into the mix later on.
It’s still unclear how the business model for Norton Crypto will work, as the focus remains on offering coin miners cyber safety. However, Norton’s offering is good news for people who want to earn digital currency without a lot of hardware resources. For more about cryptocurrency, do explore the cryptocurrency archives on our blog.