CYBR Token Plans to Offer Holistic Blockchain Cybersecurity Solution
An Overview Of The CYBR Ecosystem
The rising prevalence of attacks on blockchain networks has fuelled the conversation on the reliability of the security mechanisms employed by such platforms. In recent times, hackers have been breaching blockchain networks to either steal cryptocurrencies or user info or both.
One notable incident is the hacking of the Japan-based crypto exchange platform, Zaif. Here, the cybercriminals made away with over $58 million worth of digital assets. Throughout 2018, the crypto space has lost a whopping $1 billion to hackers. This figure is expected to go higher next year if no appropriate action is taken. Although these attacks do not happen on a daily basis, they are the most significant threat to the blockchain sector.
Besides the loss of assets, these attacks have made many prospective crypto investors wary of investing in the industry. As a result, companies are looking to enforce countermeasures to increase the security of their blockchain platforms. On such company is CYBR – Cyber Security Ecosystem.
The CYBR Solution
The CYBR Ecosystem is a blockchain network that aims to provide a comprehensive security solution that guarantees the integrity of smart contracts. This is done through an online platform that conducts regular threat analysis procedures and issues real-time safeguards to its users.
The network relies on the CYBR’s proprietary cybersecurity engine, called Blindspot, to identify and block malicious tools that aim to affect the integrity of smart contract transactions. According to the official website of CYBR, the crypto space needs to urgently address the issue of hacking. CYBR intends to end this problem by introducing their cybersecurity solution to the blockchain industry.
Users can easily track the progress of their smart contract transactions via on an online portal that is integrated into the CYBR ecosystem. Moreover, the portal also enables CYBR users to verify the website and other addresses, access customer support services, Blindspot downloads and ability to transact in digital tokens.
The Objective Of CYBR
CYBR was established by Shawn Key, a renowned expert in the field of information technology and cybersecurity. Throughout his career, which spans over two decades, Shawn has been dealing with major threats that avoid detection by existing security infrastructures and devising their countermeasures. Shawn noted that the security challenges in the blockchain industry are similar to the ones in other information systems. However, the other sectors have legal frameworks that protect their infrastructure, while digital assets have regulatory uncertainties. This makes them more vulnerable to such attacks.
Shawn decided to use his knowledge on blockchain technology to create CYBR, a platform that would bring a lasting solution to issues facing the industry. Ultimately, CYBR intends to eradicate the incidence of hacking and ensure that investor assets’ are secure.
Distinctive Features Of CYBR
CYBR has several unique functionalities that make it a standout solution in the cybersecurity sector. In due course, it is poised to become a reckoning force in the sector. The key features of CYBR include:
- Identifies and blocks threats to blockchain transactions.
- Detects advanced and mutant threats that are invisible to conventional security infrastructure.
- Secures transactions by verifying token addresses.
- Real-time alerts concerning new threats in the crypto space.
- Scalable and automatic.
Chad Fulgham, a former CIPO of the FBI, said that the CYBR solution is a mandatory security mechanism for any organization that is facing cybersecurity challenges. He specifically lauded the solution's ability to assess and neutralize threats in blockchain networks.
The CYBR Token
As of now, CYBR is conducting a private sale. The token generation event is scheduled to take place within the month (October 2018). Notably, bonuses will only be available during the private sale which ends on October 14.