Good day everyone,i would be writing about the BUGLAB PLATFORM like i did the last time,click on this link in order to have an overview of it https://steemit.com/blockchain/@adelekejustin01/introduction-to-buglab-platform-cybersecurity-penetration-testing-on-the-ethereum-blockchain . Today i would be writing about the following;
A) PROBLEMS OF TRADITIONAL PENETRATION TESTING AND BUG BOUNTIES
B) TOKEN DETAILS
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.
DEFINING REQUIREMENTS
The list of potential use cases is quite long. Scenarios might include uncovering malicious SQL injection, which routes database content to a hacker. A system may have authentication bypass vulnerabilities. Sensitive company data may be unencrypted. File uploads may not be protected. User sessions may be subject to takeover by malicious entities. Perhaps the vulnerability is relatively straight-forward: for example, a company may have insufficient login security. The Buglab strategy addresses these and other vulnerabilities in a cost-effective manner to tackle cybercrime and its impact on clients’ bottom lines.
The platform’s design offers multiple solutions against the threats of cybercrime. Using either the Professional or Enterprise plans gives clients access to private teams. For example, a penetration test contest might be closed to all but a preselected team, depending upon the sensitivity of the data. Alternatively, a business may choose from other packages to use an open contest model to address system vulnerabilities. In either use case, their design provides a reward for identifying IT vulnerabilities, and also forms the infrastructure to solve these issues. Because it takes the form of a contest, whereby the client has constant access to penetration test results, it’s real-time and cost effective.
By offering contests, Buglab caps user costs by charging a fixed price that features a money-back guarantee in the event of no vulnerabilities detected. Within the challenge or contest framework, community pentesters act independently (though on the same project) to use their diverse technical skills to find and expose security flaws. They are thus able to discover a large number of vulnerabilities in a short amount of time. It’s an efficient model for uncovering cyber threats.
TOKEN DETAILS
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.
Token Allocation
This diagram depicts plans for the token distribution. These values highlight the various functions the token will serve. They include the sale itself, the buglab Vigilante Protocol Reserve (VPR), which is funded in a continuous manner by systematically acquiring ten percent of contests, and product development.
Accepted Cryptocurrency
Contributions for the BGL Token Distribution Event are accepted in the following cryptocurrency and one of them is ETH.
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.
Tokens can be transferred between two parties over the Internet according to the rules set within the contract that
holds the token. During the TDE, tokens are pre-sold at a discount to users who see value in the platform and anticipate
they will use the tokens to access the platform when it is ready and available for public use. The BGL Token is based on the ERC20 standard for blockchain tokens. As illustrated in the following figure, the token will be required for all transactions made within the ecosystem, including ordering a contest.
THANKS FOR READING.
To know more about this platform;
visit the website: https://buglab.io/
join the telegram group: https://t.me/buglab
whitepaper link: https://buglab.io/assets/docs/Buglab_WhitePaper.pdf
my bitcointalk link: http://bitcointalk.org/index.php?action=profile;u=1070043
facebook link: https://www.facebook.com/buglab.co
twitter link: https://twitter.com/joinbuglab
ANN Thread: https://bitcointalk.org/index.php?topic=4446991.0
