PolySwarm: Making the Internet Safer with a Decentralized Threat Detection Ecosystem
The PolySwarm project aims to build an Internet threat detection ecosystem where security experts will compete to ensure the best protection of end users through a system of incentives.
Nowadays, we are highly dependent on the Internet. This is true for both businesses and individuals. Meanwhile, hackers are getting more inventive and sophisticated, so it's tough to get a 100% guarantee that you are safe and protected. This increasing need for cybersecurity has resulted in rapid growth of the threat intelligence market.
However, most vendors offer similar solutions focused on a limited set of best-known threats. This overlap leads to inefficiently and leaves undetected a great deal of new malware emerging outside of the existing comfort zone. Besides, it's usually impossible to mix such products to provide broader coverage and better protection.
PolySwarm has a solution
This is where PolySwarm comes in with its innovative solution - the first decentralized antivirus marketplace born out of the revolutionary blockchain technology and Ethereum smart contracts. The PolySwarm team aims to create a global real-time threat detection ecosystem, providing its users with uncompromising cybersecurity.
This hub is intended to bring together businesses, consumers, and security experts from around the world and allow them to create a safer Internet through more efficient threat detection and prevention. The security experts will be supported by specialized software - thousands of anti-malware micro-engines developed to scan all files and websites which might hide vulnerabilities. Thus, PolySwarm aims to lower the market entry barrier for security experts, provide users with more options, and ensure interoperability among different products.
The PolySwarm team expects that the specially designed system of incentives will drive experts to compete in protecting every end user in the most efficient way. The basis of this marketplace is PolySwarm's Nectar (NCT) utility token, which will replace traditional payments.
The tokens will be used and distributed by anti-virus subscribers as a fee to those experts who are the best at timely and accurate malware identification. PolySwarm offers the reward to incentivize honest and high-quality engagement in threat detection. It provides a revenue stream for the most active and value-adding participants in the ecosystem, rewarding them for doing their best to defend end users. Meanwhile, users get timely access to security expertise and effective protection from cyberattacks.
PolySwarm ICO Details
The project aims to raise funds by offering the community its ERC20 tokens, hoping to reach the hard cap of $50 million. The maximum number of tokens is limited. This cap is based on the maximum funding US dollar cap, the price of NCT (in ETH), and the current ETH to US dollar exchange rate. The total number of NCT tokens will be determined during the token sale. However, PolySwarm has announced that only 70% will be available for sale and distribution in the ICO.
The exchange rate of 1 NCT in the ICO is set at $0.0283 (0.00003 ETH), and early adopters will be offered a bonus of up to 20%. The NCT crowdsale started on February 20, 2018, and is scheduled to close on March 22, 2018. No new tokens will be created after the sale closes.