PolySwarm – NCT ICO Nectar Expert Threat Protection Security?
PolySwarm is a decentralized marketplace where experts compete to protect you from cyber security threats. find out how it works today in our review.
What Is PolySwarm?
PolySwarm is a network of anti-malware experts who come together to defend against today’s biggest threats. Experts optimize their engines for accuracy, working together to seamlessly protect enterprises and end users.
“Think Bitcoin,” explains the official website, “but instead of mining, a global community of anti-malware experts compete to best detect today’s threats.”
It’s a decentralized cyber threat intelligence market. The network runs on NCT tokens, also known as Nectar. Nectar tokens will launch with a crowdsale in February 2018.
How Does PolySwarm Work?
PolySwarm uses Ethereum smart contracts and blockchain technology to bring something unique to the world of anti-malware.
PolySwarm consists of a real-time threat detection ecosystem for enterprises, consumers, vendors, and security experts. Experts participate in the marketplace by developing competing “micro engines” that autonomously investigate the latest threats. Their goal is to outperform the competition.
PolySwarm’s “Proof of Work” system is threat detection accuracy. The market rewards experts who are better able to defend enterprises and end users. The higher your threat detection accuracy, the better your in-platform reputation will be.
Compared to today’s ad hoc market, PolySwarm aims to lower the barriers to entry, provide better coverage options, discourage duplicative efforts, and ensure interoperability among products and threat intelligence feeds.
Some see PolySwarm as a prediction market where thousands of micro-engines, or workers, investigate the latest in malware evolution at machine speeds, with no humans in the loop to slow down the process.
The platform revolves around the use of “bounties”. Users post a “bounty” onto the platform, then wait for security experts to claim that bounty. Each bounty includes a bounty placement fee, the amount of the bounty, a cryptographic hash of the solution, and a listing GUID.
All transactions are made in Nectar (NCT) tokens. These tokens aim to replace traditional lump antivirus and threat scanning subscription payments. Today, traditional subscription “are inefficiently distributed to a single vendor that doesn’t cover your variety of threats well,” explains the official PolySwarm website. PolySwarm’s Nectar tokens can be used for a more efficient distribution model.
What Problems Does PolySwarm Seek To Solve?
PolySwarm’s whitepaper argues that today’s antivirus market discourages solutions that provide broad threat coverage. Instead, today’s solutions focus on a “comfort zone of threats”:
“Today’s enterprises rely on an ad-hoc mixture of antivirus subscriptions, threat intelligence feeds, and assorted dynamic analysis engines to defend against evolving adversarial cyber activity. Users must weigh the benefits and drawbacks presented by each solution and decide on the least-worst fit for their environment.”
The “comfort zone” refers to the idea that most antivirus makers will focus on the most common threats affecting enterprise users. If a software company focuses on more obscure threats, they might not get sales. In other words, the market forces software developers to protect against the same treats, all the time.
PolySwarm aims to solve that problem by creating an ecosystem of broad coverage where each “micro engine” caters to a different segment of the market. Micro engines are created by a network of geographically diverse security experts.
How Do PolySwarm Nectar Tokens Work?
PolySwarm Nectar Tokens (NCT) form the basis of the marketplace. Fees are used to discourage spam and incentivize honest, active market engagement.
Fees are charged on transaction types that may be abused for spam and distributed to participants that are actively participating in the ecosystem.
PolySwarm needs its own token to distance itself from the existing marketplace. The whitepaper explains that today’s subscription fee systems lead to an inefficient distribution model in the antivirus community.
Benefits Of PolySwarm
PolySwarm aims to deliver benefits to each of the four parties in the PolySwarm ecosystem, including end users, security experts, ambassadors, and arbiters.
End users are enterprise and home users who participate via bounties and offer, then extract timely and accurate classifications on incoming threats.
PolySwarm consists of geographically diverse malware experts and reverse engineers, with experts dissecting the latest suspect threats while maintaining detection engines that spot incoming threats. Security experts who create an accurate prediction are rewarded in NCT tokens.
Ambassadors are companies that make it easy for end users to benefit from the PolySwarm market. Ambassadors collect traditional fiat subscription fees, then post bounties and offers onto the market on behalf of clients.
Arbiters are like a high-level ambassador in the PolySwarm ecosystem. Arbiters are responsible for determining the truth about incoming threats. A certain percentage of ambassadors will be considered arbiters automatically, based on the fees generated.
Who’s Behind PolySwarm?
PolySwarm is being developed by Swarm Technologies, Inc. The team, according to the official website, “consists of InfoSec veterans with decades of experience in government and industry.”
All PolySwarm co-founders are also members of Narf Industries, LLC, a boutique information security firm specializing in providing security to enterprises and governmental organizations.
Key members of Swarm Technologies include Steve Bassi (CEO, Developer, Founder), Paul Makowski (CTO, Developer, Co-Founder), Ben Schmidt (Director of Product Security, Developer, Co-Founder), Nick Davis (COO, Developer, Co-Founder), and Max Koo (Senior Backend Developer, Co-Founder).
The PolySwarm Token Sale
The PolySwarm token sale for NCT tokens starts on February 6, 2018 at 19:00 UTC.
The tokens are set at a rate of 1 ETH = 31,337 NCT, with bonuses of up to 20% available.
In today’s anti-malware industry, a single vendor (consisting of a centralized group of threat experts) will provide a “one size fits all solution”, leaving users vulnerable to attacks. With PolySwarm’s system, micro-engines developed by a global community of security experts converge to quickly analyze the threat, providing broader analysis and protection catered to your exact needs. It’s all built on the Ethereum blockchain and smart contracts.
To learn more about PolySwarm and how it works, visit online today at PolySwarm.io.