:: BugLab :: Blockchain Cybersecurity Testing

- Agustus 26, 2018

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.
The project helps companies not just to fix, but to discover vulnerabilities in their digital solutions and assets. The concept is to discover, identify and allay these risks that the companies may or may not be aware of.
The platform comprises a community of qualified consultants who carry out penetrative tests on companies’ digital systems such as websites, mobile and storage devices, IoT, etc.

Introduction to Buglab

BugLab Website: https://buglab.io

The traditional penetration tests have limitations in that companies pay far more than the services rendered, so it is hardly cost effective.

The current security situation is that companies and entities usually take action on security threats after their systems have been bridged or only when they realize that attempt has been made. Even when there are system hacks, most entities do not necessarily respond appropriately to protect data because of the high cost of hiring consultant whitehat hackers.

Despite the high cost of hiring consultants, consulting cybersecurity outfits usually deploy one or two pentesters for the diagnosis of cybersecurity threat, so the result is strictly dependent on the expertise of one or two pentesters.

When companies pay for bug bounties because they are unable to pay big cybersecurity consultants, the reported vulnerabilities are sometimes too expensive for them to fix, so they effectively paid for knowledge of the existence of a problem they cannot afford to solve. It is also possible that bug discovered is not relevant to the success of the business but since these bounties pay according to the number of vulnerabilities found, emphasis is on discovery and not solutions.

https://buglab.io/

Buglab links a community of qualified cybersecurity experts with companies so that their cybersecurity needs are mitigated. The community is incentivized to uncover bugs in company’s systems. Discovered vulnerabilities are ranked in order of importance, severity or impact on the business. Companies will then have the option of choosing from the pool of pentesters or work with a validated consulting team. This team deploys a minimum of five pentesters to work on a company’s cyber security issues.

Buglab customizes services according to organizational need of the entity involved. The community is invited to participate in a public contest after the entity has submitted their cybersecurity need. Buglab has a scoring system that is applied in open security contests. This rating system ensures that threats are rated according to the order of importance, especially regarding the organization’s business. The system also ensures that Buglab pentesters are responsive, efficient and thorough in their work.

A major strength of the Buglab community approach to cybersecurity is that a large number of threats could be discovered in a short time because many skilled individuals would work on a project. The clients are secured because they pay only for discovered bugs.

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