Buglab – a platform that connects companies with a global network

Buglab is an Ethereum-based platform that connects companies with a global network of expert cybersecurity researchers. At the center of their 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. Buglab will offer a unique, competitive, incentivized, and easy-to-use platform to address this widespread and growing business need. Buglab will assist companies, whether in IT, financial services, or in retail, to identify and mitigate cybersecurity gaps they may not (but should) know about. The solution makes cybersecurity services accessible to even the very smallest enterprises that typically lack both the resources and budget to tackle cybersecurity vulnerabilities using traditional means. 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.

Advantages of Using the Blockchain to Reshape Pentesting

Disintermediation

For a transaction to go into effect, it has to be approved by all the miners, which verify the transaction’s validity. Only then the transaction can be incorporated into network nodes on the blockchain. Adding new blocks requires a consensus between the network’s players. This process renders control by a third party obsolete.

Security

The code for each new block is built on that of the block that precedes it in the blockchain, in such a way that modifying a single block would involve changing all of the blocks in the chain, which is impossible. Within a blockchain, the blocks as a whole are replicated across nodes on the network, and don’t reside on an individual single server. This decentralized architecture acts as a structural defense against data theft. The data on these blocks is protected by a number of innovative cryptographic procedures to prevent modification after the fact.

Autonomy

Within a blockchain, servers and supporting architecture are dispersed across the network. The blockchain is ideally independent of third party services. Miners allocate a portion of their machines’ calculating power to compute algorithms required to validate transactions. This work is rewarded. In a Buglab contest, the first miner to validate a block wins tokens. This opportunity for financial gain encourages powerful competition. For uncovering cybersecurity threats, this method provides value to the client.

Problems of Traditional Penetration Testing and Bug Bounties

Cost Inefficiency

Whether it’s the billable hours model in pentesting, or the pay-per-vulnerability structure of bounties, companies do not get the most of out of their spending.

Lack of Resources

Cybersecurity firms typically assign just a few pentesters to each assignment, which limits the skillsets being leveraged.

Irrelevancy in Reporting

During bug bounties, researchers uncover large amounts of vulnerabilities without in-depth analysis, adding little value to the clients.

The 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.

ICO DETAILS

Token Name
BGL

Platform
Ethereum

Token Type
ERC-20

Pre ICO Token Price
1 BGL = 0.15 USD

Main ICO Token Price
1 BGL = 0.15 USD

Accepted Payment Method
ETH

Minimum Contribution
6.67 ETH

Soft Cap
6,000,000 USD

Hard Cap
20,000,000 USD

Token For Sale
170,000,000 BGL

Pre ICO Start Date
30.06.2018

Pre ICO End Date
04.08.2018

Main ICO Start Date
11.08.2018

Main ICO End Date
11.09.2018

Country
Gibraltar

KYC, Whitelist
Both

Limited Area
USA, China

 

Source: youtube/Buglab

For more information, visit the WEBSITE or read the Whitepaper.

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