BUGLAB - Cybersecurity Penetration Testing on the Ethereum Blockchain

Buglab is a Ethereum-based platform that connects companies with a global network of expert cybersecurity researchers. At the center of our ecosystem, there are two programs - the buglab contest and Vigilante Protocol, helping companies all over the world to discover and fix vulnerabilities on their digital solutions or assets.

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

The Buglab platform detects and remedies vulnerabilities on various business applications, websites, mobile applications, Internet of Things (IoT) devices , and smart contracts by transforming penetration test services into challenges, referred to as contests, for a community of independent information security consultants with certified qualifications.

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.

Corporations are often aware that their levels of computer security fall short. However, finding and placing qualified cybersecurity professionals is time intensive and costly. Regulation requirements to protect personal data add another layer of complexity for cybersecurity solutions. According to a ETH Zurich conference workshop, by the year 2025, there will be more than 50 billion online devices. A significant portion of the information stored across all of these ecosystems will need protection. The cybersecurity market is likely to grow non-linearly to address needs in this space.

Buglab Solution

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. Once a company has provided basic information and launched the contest, the community receives a public invitation to participate.

What are BGL Tokens

A token on the Ethereum blockchain is a digital asset that is held inside a token contract, in trust for a wallet address.
The buglab token, identified as BGL, is based on the ERC20 standard for blockchain tokens.
BGL tokens are required for all transactions in the buglab ecosystem, from ordering a contest to rewarding pentesters and whitehats.

The Buglab Token (BGL) is being introduced to incentivize penetration testing in the blockchain environment. In the context of the Buglab experience, token exchange occurs in the following scenarios.

Contest

The Buglab platform also assigns a proper match using the Buglab recommendation engine. Selection can be made according to several criteria, including a pentester’s country, or their skill areas. The start date is always determined by you. Using the methods that Buglab offers, penetration testing follows a unique path, as shown in the following figure.

The scoring system encourages (that is, incentivizes) each pentester to be the first to uncover a maximum amount of vulnerabilities, and to obtain the highest score. Each vulnerability is assigned a score. An issue undiscovered earlier gets a full score. Scoring for duplicate entries factors in timestamp (to encourage early reporting of significant vulnerabilities) and the number of pentesters who discovered them.

Core Features of the 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.

Public Contest
Private Contest
Selection Filters
Triage System
Reports
Chat
Fix Companion
Client-Managed
Mediation-Leaderboard

Vigilante Protocol

In addition to rolling out contests for enterprises of varying scales, Buglab is introducing a globally integrated hacking prevention program named the Buglab Vigilante Protocol. It’s a system that allows whitehat researchers to report on system vulnerabilities of a company that isn’t one of our platform’s customers.

This protocol enables whitehats from the community as well as anonymous whitehat users to report vulnerabilities in a secure and ethical way to companies that are not Buglab customers

Buglab will be the creator and issuer of BGL. The platform will deploy a smart contract system to receive contributions and to create and issue BGL to contributors during a TDE.

The Buglab Token

The Buglab Token (BGL) is being introduced to incentivize penetration testing in the blockchain environment. In the context of the Buglab experience, 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.

TOKEN DISTRIBUTION

MORE INFORMATION :

Website : https://buglab.io/
Whitepaper : https://buglab.io/assets/docs/Buglab_WhitePaper.pdf
Twitter : https://twitter.com/joinbuglab
Facebook : https://www.facebook.com/buglab.co
Telegram : https://t.me/buglab
Reddit : https://www.reddit.com/r/buglabProject/

Author : https://bitcointalk.org/index.php?action=profile

ETH : 0x31E1baB2A252C6096343F7E1F92590CE91BD4024