The cyber security market has recorded an increase in adoption in various industries, such as Health, Government, Banking and financial services, Retails and manufacturing. With this increase in adoption of cyber security, there is high demand for cyber security professionals and this demand exceeds the supply as hackers are constantly developing advanced schemes that target so many companies, both big and small.
Cyber security services have been gaining an increase in revenue over the years. They make it possible for enterprises to identify threats and protect organization’s data from malicious cyber-attacks. It facilitates the process of noticing attacks and empower organizations to take predictive measures in fighting cyber-attacks.
Market insight
The increasing number of breach on digital assets both for individuals and enterprises, is one of the factors propelling the growth of the cyber security industry. The increasing need to fight malicious attacks in both small and large organizations, the advanced solution is expected to push the growth of the cyber security market in the coming years. The increasing incidents of security breaches and its effects have caused an increase in IT spending in large number or organizations.
In cases where business operates internationally, there will be need of interconnecting with multiple systems across different regions, there is high probability of the business been compromised during intercontinental interaction. The demand of protecting organizations system form cyber attacks is the driving force to the adoption of cyber security.
Blockchain solution
A blockchain is the growing list of digital records across which data of different types are safely stored. These decentralized records put together to make up the database. A blockchain is managed by peer-to-peer network which unanimously adhere to a protocol for inter node communication and validating new blocks once a transaction is recorded in a block, it is impossible to alter that block without altering the subsequent block, which needs consensus of the network.
Methods of combating cyber crimes
The most conventional way of combating cybercrime is not financially suitable adequate for small businesses and organizations. The cost of most of the methods listed here has increasingly become expensive for all but large enterprises.
• Penetration test carried out by cyber security consulting firms: this method requires that the client pays for the services with regards to the billable hours, irrespective of the results. Most of the penetration tests are usually done by one or two consultant, this makes the methods exploited by the organization limited.
• Bug bounty challenge: in this method cyber security researchers are paid on the number of vulnerabilities uncovered. Most often organizations end up paying to fix issues not totally affecting their revenue or customers.
• Bug bounty program: this method is mostly used by websites and software developers, by which individuals are compensated for reporting bugs relating to exploit or vulnerabilities. The main reason for this is saving cost. Companies that uses this method lack the internal infrastructure or the software development teams, so they resort to paying for the problems uncovered.
Buglab will create a platform that makes it easy for organizations to have their information security challenges attended by a community of certified cybersecurity penetration testers in a decentralized environment.
Important features of Buglab platform
This platform makes it possible for clients to use mass of penetration testers or select a validated team from a recognized company. This team must be made up with no less than five penetration testers.
Different customizations are provided as well, which are suitable for every organizational needs.
Conclusion
With the method established on the Buglab platform, in which researchers are incentivized to uncover significant security vulnerabilities. This will make it possible for most companies to get access to top nosh cyber security services. From the stated features the project has scalable features that will propel it to success.
Token details
Symbol – BGL
Total token supply – 425,000,000
Token sale allocation – 170,000,000
Funding allocation – equivalent of $20,000,000
Public sale price – equivalent of $0.15
Type – ERC20
Token distribution
Development and staffing – 45%
Marketing – 22%
Business development – 16%
Research and development – 12%
Legal and accounting – 5%
For more information on the project, please visit any of the following links;
WEBSITE: https://buglab.io/
WHITEPAPER: https://buglab.io/assets/docs/Buglab_WhitePaper.pdf
TTELEGREM: https://t.me/buglab
TWITTER: https://twitter.com/joinbuglab
FACEBOOK: https://www.facebook.com/buglab.co
Author’s information
Username: Kingnony
Profile link: https://bitcointalk.org/index.php?action=profile;u=2025917;sa=summary
Note: This is not a financial advice, please do your own research before investing.