PolySwarm brings next-generation malware intelligence marketplace to blockchain
PolySwarm, a first-of-its-kind marketplace for malware intelligence, today announced it has moved all cybersecurity threat detection engines to its Mainnet. The malware intelligence provider is now transacting with its proprietary Nectar (NCT) tokens to unite a robust network of threat research experts such as Crowdstrike and SentinelOne with enterprise customers like Microsoft and Verizon that use the platform for protection from new and emerging online threats. In exchange for swiftly and accurately identifying threats, researchers in the PolySwarm network are rewarded with the NCT token, which operates on the Ethereum blockchain and is listed on Coinbase and other crypto exchanges.
The increasing impact and sophistication of cyber attacks have left businesses struggling to identify actionable intelligence in a massive sea of data and noise – impacting their ability to prioritize, focus and scale with confidence and speed. PolySwarm’s full transition to Mainnet marks a major step in the company’s mission to democratize cybersecurity by unifying a historically fragmented threat intelligence industry of overstretched defenders. To date, PolySwarm’s platform has facilitated billions of transactions in both Testnet and Mainnet and has detected over 300 million malicious threats. Mainnet transactions will continue to scale as more suppliers and consumers join the marketplace.
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“With our NCT token fully operating on Mainnet, PolySwarm has created a cohesive platform to provide comprehensive malware detection solutions for our clients while redefining the economics of cybersecurity,” said Steve Bassi, PolySwarm’s CEO. “Blockchain technology provided the means for us to solve long-running frustrations within the industry – namely, the siloed, fragmented landscape of threat detection. PolySwarm’s new crowdsourcing and rewards program brings that ecosystem together in one place, providing better, more actionable malware intelligence with quality and speed.”
Presently, PolySwarm’s NectarNet program is distributing approximately $1337 in NCT rewards each day to users who downloaded a Chrome extension making it possible to receive such rewards simply for browsing the internet. Those who help PolySwarm identify credible threats are eligible for higher rewards.
Over the coming weeks, PolySwarm will introduce Private Communities, On-Demand Sandboxing, and Dynamic Fees. Private Communities will be a collection of engines scanning the private data of organizations for threats, providing better protection for those data sets. On-Demand Sandboxing will create isolated environments where malware analysts can execute their research, and Dynamic Fees will enable automatic adjustments for transactions based on current network traffic or factors like the load on the Ethereum blockchain and the ETH-NCT exchange rate.