BUGLAB - Cybersecurity Penetration Testing on the Ethereum Blockchain

PRESENTATION

A storm has hit the investment market which we are not going to recover from. Crypto investment is that storm. With strict capital controls in place by most countries to control the flow of money and charge high taxes, cryptocurrency gained usage in circumventing capital controls and taxes, leading to an increase in demand. Cryptocurrency has been able to present an easy to use digital alternative to fiat currencies. Offering frictionless transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Hence, counterfeiting and anonymous transactions are impossible to achieve.

While this revolution is gaining wide acceptance, Buglab, an ethereum-based platform that connects companies with expert cybersecurity services worldwide using the Buglab Contest and Vigilante protocols has arrived.

Before I take you on this voyage, please check out this video presentation

Now that I have your attention, let’s get right to it.

What exactly is BUGLAB?

Buglab is an ethereum-based platform that connects companies with expert cybersecurity services worldwide using the Buglab Contest and Vigilante protocols. In an age in which cyber security threat has become very pronounced, Buglab preempts these threats and create an avenue through which entities can avert catastrophes resulting from security hazards on the web.

Furthermore, Blockchain generation gives a huge range of packages that may be used to decentralize a extensive spectrum of structures and render many of the systems we use these days open supply. A new Blockchain primarily based platform is aiming to decentralize cybersecurity, using white-hat hackers to guard small to medium sized agencies.

Buglab gives these organizations and corporations an answer that identifies and removes vulnerabilities in an extensive range of systems, from mobile packages, web sites, and enterprise programs, to clever contracts and net of factors devices.

To be able to decentralize this method, Buglab turns penetration testing into demanding situations that are mentioned at the Buglab platform as “contests” which can be meant to attract unbiased safety consultants that possess licensed qualifications.

Based totally in France, Buglab is built on the Blockchain, and works in an especially truthful way. In preference to awaiting hackers to assault them and compromise their safety, users of the Buglab platform can be able to invite white hat hackers to hack them first and notify them of their security flaws.

The Problem

Information security researchers are paid on a per-vulnerability-uncovered basis. Companies often end up getting charged to fix issues not entirely consequential to their revenue or customers. This is described in more detail in the next section.

The 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.

The Target

The Cybersecurity Market

Impacts on Return on Investment (ROI) are difficult to quantify, so it takes time for companies to recognize the need for cybersecurity services.

For all-too-many enterprises, as well as individuals with any digital assets on their websites (content included), it often takes a breach into their system before they take action to shore up security

Meanwhile, the victims of cyber attacks rarely advertise that they have been targets, unless they must, and data vulnerabilities are rarely first priority as product gets rushed to market, so it is difficult, if not impossible, to get exhaustive statistics about cyberattacks details, including their frequency or their impact on ROI. However, one aspect is absolutely certain: the trend is decidedly on the rise, with some widely-known geopolitical impacts.

Blockchain Security

The method offered by Buglab deploys expertise and smart contracts across the blockchain.

A blockchain is a thread of digital records across which different types of data are stored. Together, these distributed (or decentralized) records make up a database similar to the pages of a large ledger book. These virtual ledgers are hosted across many servers, which helps verify and authenticate any given transaction. It is an intense numerical process, across many machines hosted by countless participants, or miners. See also Advantages of Using the Blockchain to Reshape Pentesting.

How It works?

Buglab contests paintings definitely by inviting a network of professional cybersecurity experts to locate vulnerabilities in their mobile apps, web sites, smart contracts, and iot devices. Penetration testers working at the Buglab platform are situation to a prolonged validation and vetting procedure, after which they are loose to try to crack the devices and platforms Buglab customers make to be had for testing.

The Buglab white paper, released in January 2017, offers a succinct rationalization of Buglab method: “the Buglab technique links organizations which have data safety needs, that's pretty much they all, with a network of licensed cybersecurity penetration testers in an incentivized environment, in which testers are rewarded once they find machine vulnerabilities, ranked with the aid of severity and capability impacts. It’s finished as a race in opposition to time.”

Customers of Buglab are able to select from a number of extraordinary options when imparting their structures and gadgets for pentesting. It’s possible to both engage the offerings of the Buglab network as an entire, and choose a validated crew from a good pentesting organisation.

The Features of Buglab Platform

The Buglab platform enables customers to either use the mass of pentesters or choose a validated team from a known company. Teams must include no fewer than five pentesters.

Public Contest

Private Contest

Selection Filters

Triage System

Reports

Chat

Fix Companion

Client-Managed

Mediation-Leaderboard

Contest

Buglab links clients with a global network of certified cybersecurity penetration testers in an incentivized environment. The testers are rewarded based on their cumulative discoveries in time-limit competitions.

Certified Pentesters

Full Customization

Real-Time Collaboration

Vigilante Protocol

With this, buglab provides an avenue for whitehats to share their own vulnerability discoveries. We then work with CERTs all over the world to verify those discoveries and notify companies at risk.

CERT & CSIRT Partnership

Verified Reporting

Automatic Rewards for Whitehats

The other Buglab solution being deployed is the Vigilante Protocol. This is the specific platform where whitehat researchers submit vulnerabilities they have seen in a company’s platform that is not listed in the Buglab platform. These companies will then be invited by Buglab to reward researchers based on gratuity for the bugs they have seen.

This solution allows an outsider’s view to help make a client’s security platform be bug-proof. And this allows companies to solve bugs at a little cost than traditional means.

The Vigilante Protocol starts with whitehats submitting vulnerabilities seen in an outside company’s platform. The vulnerability will be submitted to Buglab and globally based Computer Emergency Response Teams (CERTs) and Computer Security Incident Response Teams (CSIRTs) partners will triage together and score the vulnerability.

The affected client will then be notified and invited to reward the whitehats with BGL tokens. The company will also be given the option to start a contest including the whitehat to verify and further check for more vulnerabilities.

The Buglab Token Sale and ICO Details

The digital currency of Buglab is called BGL tokens and these are the tokens to be used to incentivize the Buglab platform during The Contest and a Vigilante Protocol process.

This is based on the ERC-20- Ethereum standard. The image below summarizes how BGL tokens will be used in the Buglab platform.