London, Thursday 6th December, 2018 – PolySwarm, the first decentralised threat intelligence marketplace, today announced that its new ecosystem to protect users will be launched before the end of the year.
The ecosystem is a unique new approach to malware detection which connects a network of security experts and AV companies who constantly compete, and get rewarded, to protect users from emergent threats. Companies and MSSPs with large volumes of incoming files, network traffic or URLs can obtain a real-time verdict on the maliciousness of these files through PolySwarm’s marketplace.
Threat detection is automated, performed by experts from around the world who build and maintain anti-malware software ‘micro engines’ that detect threats. They are paid based on accuracy and are required to stake tokens to provide opinions; incentivising accountability, honest behaviour, more accurate threat detection and fewer false positives. PolySwarm is built on the Ethereum platform, running on Nectar, an ERC20-compatible utility token that makes it easy to submit and classify potential threats on the PolySwarm market.
PolySwarm is currently expanding its open and crowdsourced ecosystem by onboarding new anti-malware engines. This offers suppliers of threat detection the chance to generate passive income by accurately detecting threats and provides AV companies with access to a vast stream of malware samples to improve their products while providing broader, more accurate protection for enterprises.
Commenting on the launch, Steve Bassi, CEO of PolySwarm said: “As malware attacks continue to grow and evolve, we need a new way to protect enterprises from threats. The existing AV model of single vendor threat detection is inefficient, there are too many false detections and it’s designed to focus on known, widespread threats. Ultimately this slower model of malware discovery puts users at risk. Added to this, the industry’s also struggling with a shortage of skilled security talent which is why we believe it’s time for a re-think on the economics of this industry.”
He continues: “PolySwarm capitalises on the power of crowdsourced intelligence not only to provide more accurate and faster detection but also to help meet this talent shortage. This is a disruptive approach to malware detection which meets the needs of a shifting market; enterprises benefit not only from greater accuracy, but also from access to experts with a unique insight into specific types of malware.“
PolySwarm is the first decentralized marketplace allowing security experts to build anti-malware engines that compete to protect consumers. PolySwarm incentivizes a global community of information security experts to disrupt the $8.5 billion cyber threat intelligence industry, providing enterprises and consumers with unprecedented speed and accuracy in threat detection. The PolySwarm market runs on Nectar (NCT), an ERC20-compatible utility token. For more information, please visit PolySwarm.io.
Kirsten Scott/Kelly Friend
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