The number of cyber-crimes in the recent days have only been increasing, even as we speak. Every week there are more and more new cases popping up regarding the hacks, and other cyber-activities.
In order to provide a good source of cyber-security, Buglab has started its presale as well as public sale from the 10th of June, 2018. Buglab is said to run on the Ethereum Blockchain technology, which could improve the current issues in the field of cyber-security penetration testing.
What are the issues currently witnessed in Cyber-security?
A joint report provided by the Global Information Security Workforce Study (GISWS) in 2017, determined that the cyber-security industry is growing by an average of 11% per year. It is forecasted to reach $232 billion in revenue by 2022 whereas it stood at $138 in 2017.
Even with the stats, the field of cyber-security penetration testing or bug bounty programs is still having many critical issues due to which the cyber-crime or activities are able to take place. Here are few of them –
- Ineffective Report – Usually the researchers tend to collect information based on just the bugs that have failed and paid accordingly. They don’t provide a complete report of the entire case. Hence, this leads to inefficiency and lacks substantial value for the clients.
- Scarcity in Resources – In order to cut costs, the cyber-security companies have less skilled personnel. This further leads to inefficiency as well vulnerability of the project.
- Cost Inefficiency – The companies follow a simple traditional billing model. This works on per hour / vulnerability basis which proves to be further ineffective as well as outdated.
More Insight –
The Solution – Buglab
The new technologies are dynamic and involves complexity. Also, the hacks or other cyber-activities are only turning out to be even more powerful. Thus there is an obvious need to improve the level of cyber-security.
Thus, after a lot of planning, preparation and development, Buglab which works on Ethereum Blockchain provides the solution. It has the following features-
- BGL Tokens – BGL token is based on ERC20 which is the main medium of exchange. It’s secure and fully transferable.
- Public and Private Contest – The firm based on the information sends out an invitation for the group of contests to participate.
- Skills are known – The various capabilities and skills are known before hand by the company.
- Unbiased Mediation – It provides objective mediation which handles disputes.
- Rewards / Leader board – This is an effective to motivate the personnel. Also, rewards can be given through incentives.
In order to learn more about Buglab and to keep track of the latest developments and team events, please visit buglab.io. Announcements are also made regularly on their Facebook page and Twitter. Additionally, you can join the live discussion on Telegram