AUTOMATED BUG BOUNTY– A subsystem of the Uncloak's cyber security threat management model

Prior to this article was a general overview of the UNCLOAK project in which we looked at the problem space, the proposed solution and some of the benefits that could be derived from the use of the system. In today's post, we are going to look at an essential feature of the uncloak cyber security management system. Developing a comprehensive solution to solve the issue of unauthorized access to sensitive financial data, UNCLOAK focuses on introducing “AUTOMATED BUG BOUNTY” as part of its cybersecurity threat management tool.

What are bug bounties and its present structure?

A bug bounty program is a deal offered by many websites and software developers by which individuals can receive recognition and compensation for reporting bugs, especially those pertaining to exploits and vulnerabilities ("Bug bounty program," n.d.). The traditional way of bug bounty isn’t that effective and lacks proper management. Anybody with a skill in hacking can take advantage of systems in the name of being a bug hunter. Some of these people pay no attention to professional computing ethics and lack credibility (i.e. You can’t trust them with your confidential data even after rewarding them for identifying vulnerabilities in your system). This is due to scares regulatory body.

What makes Uncloak's automated bug bounty different?

It might be of less importance if UNCLOAK tries to come up something that we already know of or a product that does not add value and improve the existing nature of bug bounty programs. We identified certain features of the bug bounty that makes it unique from the others.

Being developed on blockchain 3.0 will assist in creating a database of registered ethical hackers that goes through a thorough verification process. These hackers, software engineers and penetration testers, also known as hunters are granted access to the UNCLOAK platform to identify a companies (partner of Uncloak) security flaws and vulnerability. And also foster proper management and regulation.

A voting system as a means of threat validation. The use of blockchain and a smart contract will assist in validating vulnerabilities as to whether they are true threats or not. The voting system will be used as a mechanism for validators (accredited hunters of Uncloak) check if a claimed vulnerability by their fellow hunter is genuine. A positive outcome will trigger an automated rewarding of Uncloak tokens (UNC) to the hunter and the vulnerability being stored on the blockchain as a real cyber threat. These token can be exchanged for other cryptocurrencies and also fiat money.

Why Uncloak's automated bug bounty?

For companies and individual, the Uncloak platform will provide a real-time protection of their financial data. They wouldn’t worry about losing assets and reputation. They will have the option to work with a specific hunter without having trust issues with regards to their information and data being compromised.

Bug hunter may earn extra cash form their skill and also gain recognition. Several ways to earn tokens (i.e. either by validating vulnerabilities or discovering some) and regular update of cyber threat vulnerabilities for subscribers on the platform (for research purposes and resolution).

Conclusion

Having identified the numerous features and benefits of the automated bug bounty of Uncloak threat detection system (a part of a whole), it calls for worldwide adoption and support to fight mass data breach and unauthorized access.

Links to useful resource about the project:
Telegram--- https://t.me/uncloakio
Twitter--- https://twitter.com/uncloakio
Website--- https://uncloak.io/
Facebook--- https://www.facebook.com/uncloakio

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