BUGLAB: CYBERSECURITY PENETRATION TESTING ON THE ETHEREUM BLOCKCHAIN

Since the internet became free, there has been recorded growth in the amount of cyber-attacks being experienced by companies and organization globally, costing hundreds of billions of dollars from legal action. These days, nothing, not even companies nor software is safe, more so the internet. The situation is so precarious these days that, according to a prediction by Gartner, details of which can be found here https://www.gartner.com/newsroom/id/3784965 , a global spending of $93 billion is required for information security during the year 2018. As is expected, these sums will continue to rise in the coming years, meaning that something has to be done about it. Moreover, there are currently lots of online devices used by humans where they store important information that are susceptible to attacks, and it is expected that by 2025, there will be over 50 billion online devices in use. This clearly shows that a robust system is needed to address potential cybersecurity threats. There are existing methods for curbing cybercrime but the notable ones are beyond the reach of small businesses and organizations in terms of cost. Besides, the impact of ROI is not easy to quantify which further veils the need of cybersecurity services by companies. However, there is not much to worry about as the Buglab platform is here to fix these challenges in a cost-effective way for both small and large businesses.
With the Buglab, organizations with information security challenges can have a solution, as they will be linked as they will be linked with a community of internet security penetration testers that are well certified, for incentives. In other words, cybersecurity penetration testers will get rewarded for fishing out vulnerabilities within organization, and their rewards are going to be ranked by severity of the cyber-attack and its potential effect. Buglab will help detect vulnerabilities within numerous business applications, IoT devices, and smart contracts, and remedies these vulnerabilities. Buglab, in its remedy, transforms penetration test services into challenges known as contests, for its independent information security consultant community who are well certified. The Buglab solution is one that will be economically feasible, and as said earlier, both small, even the smallest, and large organizations can use it.
The key features of the Buglab platform includes the following: Triage System, Private Contest, Public contest, Client-Managed, Selection Filters, Reports, Fix Companion, Chat, Leaderboard, Meditation,

ADVANTAGES OF USING THE BLOCKCHAIN TO RESHAPE PENTESTING
• Security against data theft
• Disintermediation (No third-party)
• Autonomy
• Smart Contract that enables pentesters to discover and communicate vulnerabilities

USES OF BUGLAB TOKENS
• To reward contest winners— up to the top three in rankings, or as customized by the client.
• To cover the cost of a contest, including transaction costs.
• To enable and tokenize “tipping” functionality for white hats.
• To fund both the VPR and BTR.
• To reward CERTs and CSIRTs for triaging of vulnerabilities and help build new partnerships.

BUGLAB TOKEN
The Buglab Token (BGL) is an ERC20 compliant token on the Ethereum blockchain. The BGL is transferrable between two people via the internet, based on the token smart contract. Note that, there will be a Token Distribution Event (TDE) where tokens will be pre-sold at a discounted price. These tokens will enable access to the Buglab platform when it is made available. The following are details of the Buglab TDE:
Symbol: BGL
Total Token Supply: 425,000,000
Token sale allocation: 170,000,000
Funding goal: Equivalent of $20,000,0001
Public sale price: Equivalent of $0.15
Type: ERC20
Pre-sale bonus: 25%
The main sale is tiered and will have the following tiered bonuses:
Tier 1 (First 24 hrs): 20%
Tier 2 (Week 1): 15%
Tier 3 (Week 2): 10%
Tier 4 (Week 3 to end): 0%

TOKEN DISTRIBUTION

40% - General token sale
20% - Vigilante Protocol reserve
10% - Team
10% - Future product development
10% - Marketing
7% - Advisors
2% - Community campaign
1% - Buglab transaction reserve

USE OF FUNDS
45% - Development and Staffing
22% - Marketing
16% - Business development
12% - R&D
5% - Legal and accounting

ROADMAP

March 2016 - Development Begins
February 2017 - French Tech Ticket Acceptance and Team Relocation
June 2017 - IBM Global Entrepreneur Program Acceptance
November 2017 - Partnership with CERTs & CSIRTs begins
Q2 2018 - Public Pre-sale Opens
Q3 2018 - Public Sale Opens
Q3 2018 - Blockchain Migration Begins
Q3 2018 - Public Beta Release
Q4 2018 - Launch of Contest & Vigilante Protocol

TEAM
Reda Cherqaoui - Founder, CEO
Alexander Belokon - Backend Developer
Youness Aamiri - Blockchain Developer
Azdine Bouhou - Software Architect
Konstantin Bditskikh - Frontend Developer
Amine Bioudi - Full Stack Developer
Dalal Cherqaoui - Marketing and Communications Manager
Herve Schauer – Advisor

With Buglab, issues of cybercrime will well be a thing of the past. Buglab hopes to achieve this in an economically feasible way, making it all-inclusive (for even the smallest and large organizations). I urge everyone to join in on the token sale event and share in the numerous benefits that Buglab has on offer.

Should you require more information on this project or want to connect with other unique ICO participants, please feel free to click on the website, read the whitepaper or use any of the social media handles via the links provided below:
Website: https://www.buglab.io
Whitepaper: https://buglab.io/assets/docs/Buglab_WhitePaper.pdf
ANN thread: https://bitcointalk.org/index.php?topic=4446991.0
Facebook: https://www.facebook.com/buglab.co
Twitter: https://twitter.com/joinbuglab
Youtube: https://www.youtube.com/channel/UCmGh-O5eRtbQchWmy8cFjYA
Telegram: https://t.me/buglab
Instagram: https://www.instagram.com/buglab.co
Reddit: https://www.reddit.com/r/buglabProject/
Medium: https://blog.buglab.io/

Published by: teejaymuna
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1344011
Ethereum wallet address: 0x69C516900e939e97C7c60Ca59bdaF15295556838