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PolySwarm ICO ends raising $25 million to decentralize cybersecurity

PolySwarm ICO ends raising $25 million to decentralize cybersecurity
Nectar token (NCT) will facilitate global threat detection, replacing outdated antivirus models.

Decentralized antivirus marketplace PolySwarm today announced the completion of its Nectar token sale, raising $25.94 million from 3,297 participants in both presale and crowdsale. Prominent backers of the project included Science Blockchain.

PolySwarm recently announced partnerships with the makers of marquee security tool suites including Cyber Triage, Binary Ninja, and Bremer Computer Security B.V., the enterprise supplier of Cuckoo Sandbox, which will produce PolySwarm’s first Arbiter, kickstarting PolySwarm’s roadmap for early adoption.

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.

“People are clearly responding to PolySwarm’s capacity to be a next-generation threat detection model and the corresponding value of the Nectar token to that capacity,” said Steve Bassi, CEO of PolySwarm. “Part of PolySwarm’s mission is to bring global security experts and their anti-malware software together to protect users and enterprises.”

PolySwarm’s founders built the company out of Narf Industries, LLC, an information security firm that recently completed a blockchain-based identity management project for the Department of Homeland Security, as well as cutting-edge information security projects for DARPA. PolySwarm’s advisory board includes former McAfee, Inc. CIO Mark Tonnesen and Dinesh Dhamija, deputy treasurer of the United Kingdom’s Liberal Democratic Party and founder, alongside renowned information security experts Dan Guido, Chris Eagle, Dr. Sergey Bratus, and Carl Hoffman.

“PolySwarm is unlocking talent from regions with less access to opportunities and leveling the playing field in the industry. Regardless of location and education history, experts get paid entirely on their ability to detect new threats accurately and in a timely manner,” said Bassi.


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