Today’s anti-virus and cyber detection market is hold by big companies who don’t have any interest in cooperating. Instead, what we have is a wide variety of options, but each of these options are not interoperable and has its pros and cons. PolySwarm is a new blockchain-based project that promises to deliver a decentralized market for cyber-security experts while binding them together to work in an interoperability environment.
What Is Polyswarm?
PolySwarm is a decentralized threat intelligence market made possible by Ethereum. PolySwarm is a decentralized anti-virus and cyber threat intelligence that uses the Ethereum smart contracts and blockchain technology.
PolySwarm aims to gather enterprises, consumers, vendors and geographically-diverse security experts together into a single marketplace as a way of enhancing cyber threat detection.
According to the Project whitepaper:
“PolySwarm is trying to incentivize rapid innovation in the $8.5B/year cyber threat intelligence space with precise economic instruments that reward a global community of security experts for timely and accurate malware identification.”
PolySwarm is aiming to be the first decentralized marketplace where security experts can develop anti-malware engines that compete to protect the end user.
The whole idea is much like bitcoin, but instead of mining, a global community of anti-malware experts meet and cooperate to best detect today’s cyber threats.
What is PolySwarm Trying to Solve?
Today’s anti-virus and cyber security market is dominated by single-vendor offerings which often miss emerging threats. Today’s market incentivizes competition, meaning duplication of cost and effort for all parties.
Moreover, the market does not reward interoperability, making consumers unable of using two anti-virus at the same time to benefit from their combined protection.
Apart from this centralized competitive environment, there is also the lack of IT experts in westerns countries while there is an oversupply of expertise in other locations with poor job access.
PolySworm believes the solution for all these problems can mitigate all these problems by bringing enterprises, consumers, vendors and geographically-diverse security experts closer together into a single marketplace.
While some experts work and maintain competing software that quickly identify the latest threats other try to solve the puzzle.
How Does it All Work?
PolySwarm starts with a simple premise in mind: the combined protection of thousands of micro engines allows for broader, faster coverage and more efficient protection.
PolySwarm’s uses “Proof of Work” as a threat detection accuracy system: the market rewards experts who are best able to defend enterprises and end users. PolySwarm’s “Proof of Work” is threat detection accuracy: The market rewards experts who are best able to defend enterprises and end users.
Relative to today’s ad hoc market, PolySwarm will lower the barrier to entry, provide broader coverage options, discourage duplicative effort and ensure interoperability among products and threat intelligence feeds.
Economically, PolySwarm functions as a skill-required twist on a prediction markets with thousands of micro-engines (“workers”) investigating the latest in malware evolution at machine speed – no human in the loop.
PolySwarm’s Nectar (“NCT”) tokens form the basis of a new market that introduces novel instruments for satisfying demand for timely and accurate assertions. Apart from this, it relies on participants that will be the base for all the platform economy. These are:
- End Users: final consumers. They can be companies or individual users
- Security Experts: Cyber security experts from all over the world
- Ambassadors: companies who will help PolySwarm Integration
- Arbiters: These will be the Top Ambassadors; there will be only a certain percentage of Ambassadors considered Arbiters.
The public NCT sale is scheduled to open to qualified buyers on February 20, 2018 at 19:00 UTC. It is scheduled to close March 22, 2018 at 19:00 UTC.
NCT will be made available exclusively for purchase with Ether (ETH). The token sale buyers will need to provide personal information such: Country of Origin, email address, full name, IP address and acceptance of the terms in the Token Sale Agreement.
The total number of NCT tokens will be determined during the token sale. The maximum number of tokens is capped. This cap is based on the maximum funding USD cap, the price of NCT (in ETH) and the current ETH to USD exchange rate.
Allocation will be 70 percent of NCT tokens will be sold during the Token Sale. Fifteen percent of the remaining 30 percent will be distributed to enterprises, vendors and Security Experts. The final 15 percent of tokens will be used by Swarm for the promotion of the project.
Disclaimer: BTCManager does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.
Source: Read Full Article