In a fast paced and rapidly changing world of cryptocurrency, it is important for cryptocurrency owners, investors, analyst and everyone in the cryptocurrency space to be kept abreast of current trends, innovations and analysis. Absolute control over information is an herculean task if not nearly impossible, there is increased risk of harsh user experience in the world of cryptocurrency and a rapidly advancing technology such as blockchain.
In a world of hackers, fraudsters and individuals who seek to take advantage of other people’s naivety, it is important to have access to tools, data, analysis and information to keep one up to date of current event happening in the everyday crypto space. Information is power, with the right tools, you are indomitable. But gathering these information from various sources proved to be a time sapping and effort consuming task. A perfect solution would be to have an ecosystem which provides these tools to everyone ranging from investors to cryptocurrency experts or people who are newly venturing into the crypto world in one giant platform and this is where Buglab comes in.
Buglab is an ethereum-based platform that connects companies with expert cybersecurity services worldwide using the Buglab Contest and Vigilante protocols. In an age in which cyber security threat has become very pronounced, Buglab preempts these threats and create an avenue through which entities can avert catastrophes resulting from security hazards on the web.
Furthermore, Blockchain generation gives a huge range of packages that may be used to decentralize a extensive spectrum of structures and render many of the systems we use these days open supply. A new Blockchain primarily based platform is aiming to decentralize cybersecurity, using white-hat hackers to guard small to medium sized agencies.
Buglab gives these organizations and corporations an answer that identifies and removes vulnerabilities in an extensive range of systems, from mobile packages, web sites, and enterprise programs, to clever contracts and net of factors devices.
To be able to decentralize this method, Buglab turns penetration testing into demanding situations that are mentioned at the Buglab platform as “contests” which can be meant to attract unbiased safety consultants that possess licensed qualifications.
Based totally in France, Buglab is built on the Blockchain, and works in an especially truthful way. In preference to awaiting hackers to assault them and compromise their safety, users of the Buglab platform can be able to invite white hat hackers to hack them first and notify them of their security flaws.
Information security researchers are paid on a per-vulnerability-uncovered basis. Companies often end up getting charged to fix issues not entirely consequential to their revenue or customers. This is described in more detail in the next section.
The Buglab platform links organizations that have information security needs, which is just about all of them, with a community of certified cybersecurity penetration testers in an incentivized environment, where testers are rewarded when they uncover system vulnerabilities, ranked by severity and potential impacts. It’s done as a race against time. Importantly, finding unique vulnerabilities is ranked above simply producing a list of issues.
The Cybersecurity Market
Impacts on Return on Investment (ROI) are difficult to quantify, so it takes time for companies to recognize the need for cybersecurity services.
For all-too-many enterprises, as well as individuals with any digital assets on their websites (content included), it often takes a breach into their system before they take action to shore up security
Meanwhile, the victims of cyber attacks rarely advertise that they have been targets, unless they must, and data vulnerabilities are rarely first priority as product gets rushed to market, so it is difficult, if not impossible, to get exhaustive statistics about cyberattacks details, including their frequency or their impact on ROI. However, one aspect is absolutely certain: the trend is decidedly on the rise, with some widely-known geopolitical impacts.
The method offered by Buglab deploys expertise and smart contracts across the blockchain.
A blockchain is a thread of digital records across which different types of data are stored. Together, these distributed (or decentralized) records make up a database similar to the pages of a large ledger book. These virtual ledgers are hosted across many servers, which helps verify and authenticate any given transaction. It is an intense numerical process, across many machines hosted by countless participants, or miners. See also Advantages of Using the Blockchain to Reshape Pentesting.
How It works?
Buglab contests paintings definitely by inviting a network of professional cybersecurity experts to locate vulnerabilities in their mobile apps, web sites, smart contracts, and iot devices. Penetration testers working at the Buglab platform are situation to a prolonged validation and vetting procedure, after which they are loose to try to crack the devices and platforms Buglab customers make to be had for testing.
The Buglab white paper, released in January 2017, offers a succinct rationalization of Buglab method: “the Buglab technique links organizations which have data safety needs, that’s pretty much they all, with a network of licensed cybersecurity penetration testers in an incentivized environment, in which testers are rewarded once they find machine vulnerabilities, ranked with the aid of severity and capability impacts. It’s finished as a race in opposition to time.”
Customers of Buglab are able to select from a number of extraordinary options when imparting their structures and gadgets for pentesting. It’s possible to both engage the offerings of the Buglab network as an entire, and choose a validated crew from a good pentesting organisation.
The Features of Buglab Platform
The Buglab platform enables customers to either use the mass of pentesters or choose a validated team from a known company. Teams must include no fewer than five pentesters.
Buglab links clients with a global network of certified cybersecurity penetration testers in an incentivized environment. The testers are rewarded based on their cumulative discoveries in time-limit competitions.
With this, buglab provides an avenue for whitehats to share their own vulnerability discoveries. We then work with CERTs all over the world to verify those discoveries and notify companies at risk.
CERT & CSIRT Partnership
Automatic Rewards for Whitehats
The other Buglab solution being deployed is the Vigilante Protocol. This is the specific platform where whitehat researchers submit vulnerabilities they have seen in a company’s platform that is not listed in the Buglab platform. These companies will then be invited by Buglab to reward researchers based on gratuity for the bugs they have seen.
This solution allows an outsider’s view to help make a client’s security platform be bug-proof. And this allows companies to solve bugs at a little cost than traditional means.
The Vigilante Protocol starts with whitehats submitting vulnerabilities seen in an outside company’s platform. The vulnerability will be submitted to Buglab and globally based Computer Emergency Response Teams (CERTs) and Computer Security Incident Response Teams (CSIRTs) partners will triage together and score the vulnerability.
The affected client will then be notified and invited to reward the whitehats with BGL tokens. The company will also be given the option to start a contest including the whitehat to verify and further check for more vulnerabilities.
The Buglab Token Sale and ICO Details
The digital currency of Buglab is called BGL tokens and these are the tokens to be used to incentivize the Buglab platform during The Contest and a Vigilante Protocol process.
This is based on the ERC-20- Ethereum standard. The image below summarizes how BGL tokens will be used in the Buglab platform.
Total Token Supply: 425,000,000
Token sale allocation: 170,000,000
Funding goal: Equivalent of $20,000,000
Public sale price: $0.15
Soft cap: 6,000,000 USD
Hard cap: 20,000,000 USD
Tier 1: First 24H – 20%
Tier 2: Week 1 – 15%
Tier 3: Week 2 – 10%
Tier 4: Week 3 to end – 0%
Distributed in ICO: 40%
Whitelist/KYC: KYC & Whitelist
Restricted areas: USA, China
The Token exchange occurs in the following scenarios:
To reward contest winners— up to the top three in rankings, or as customized by the client.
To cover the cost of a contest, including transaction costs.
To enable and tokenize “tipping” functionality for white hats.
To fund both the VPR and BTR.
To reward CERTs and CSIRTs for triaging of vulnerabilities and help build new partnerships.
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Author : Maniecool
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