PolySwarm (NCT) – ICO rating and detailsMarch 5, 2018
The threat intelligence market is expected to grow to 9 Billion by 2022, thanks to an increasing need for cybersecurity with about 80 to 90 million cyberattacks each year, up to 70% of which go undetected. We’re releasing Nectar, a utility token that powers PolySwarm, a decentralized security marketplace where threats are detected in real-time by thousands of micro-engines, honed by security experts competing to protect you. Nectar will be used, exclusively, in the PolySwarm ecosystem by enterprises and existing anti-virus subscribers to distribute anti-virus subscription fees only to those security experts who are timely and accurate with being able to identify malicious files.
Polyswarm is a decentralized threat intelligence market made possible by Ethereum smart contracts and blockchain technology.
Polyswarm incentivizes rapid innovation in the $8.5B/yr anti-virus and automated cyber threat intelligence space1 with precise economic incentives that reward timely and accurate threat intelligence concerning the malintent of files, network traffic and URLs.
PolySwarm defines a real-time threat detection ecosystem involving enterprises, consumers, vendors and geographicallydiverse security experts. Experts develop and hone competing “micro-engines” that autonomously investigate the latest threats, attempting to outperform their competition. PolySwarm’s “Proof of Work” is threat detection accuracy: the market rewards experts who are best able to defend enterprises and end users.
Relative to today’s ad hoc market, PolySwarm will lower the barrier to entry, provide broader coverage options, discourage duplicative effort and ensure interoperability among products and threat intelligence feeds.
Economically, PolySwarm functions as a skill-required twist on a prediction market2 with thousands of micro-engines (“workers”) investigating the latest in malware evolution at machine speed – no human in the loop.
PolySwarm will be developed by Swarm Technologies, Inc. (“Swarm Technologies”) with funding derived from the sale of ERC20-compatible Nectar (“NCT”) utility tokens.
As a utility token, PolySwarm economically disincentivizes Nectar speculation by rewarding honest market participation through the collection and distribution of Fees to value-adding, active participants.
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