What Is PolySwarm (NCT)?

PolySwarm is a blockchain-based, decentralized threat intelligence marketplace operating in the cybersecurity sector. Unlike traditional antivirus solutions, PolySwarm leverages collective intelligence by bringing together a global network of security experts and antivirus engines to detect new and emerging malware threats.

The ecosystem is powered by NCT, an ERC-20 utility token on the Ethereum blockchain, which serves as the core incentive mechanism of the platform.

Table of Contents

Team and Founders

According to its official website, PolySwarm is positioned as a malware intelligence marketplace focused on early threat detection, unique samples, and PolyScore-driven insights that support SOC automation. In addition, the project was founded by the team behind Narf Industries, a cybersecurity firm with hands-on experience working with U.S. government agencies such as DARPA and the Department of Homeland Security.

Key team members include:

Steve Bassi (CEO & Founder): Over 20 years of experience in cybersecurity, with leadership roles in DARPA-backed projects and advanced incident response systems.
Ben Schmidt (CSO & Co-Founder): Expert in malware reverse engineering and automated program analysis, with awards from global hacker conferences including DEF CON.
Nick Davis (COO & Co-Founder): Responsible for software development and operational management.

Project Idea

The traditional cybersecurity industry is highly fragmented, with antivirus vendors relying on isolated databases. Consequently, new threats are often detected with delays. As a result, PolySwarm brings antivirus companies and independent researchers together in a competitive marketplace where rewards depend on detection accuracy.

Investors and Partnerships

PolySwarm has gained attention from both Web3 and traditional cybersecurity ecosystems.

Notable partnerships include:

Splunk: Enterprise integration enabling direct access to PolySwarm threat intelligence.
Microsoft (MVI): Strategic collaboration within Microsoft’s security ecosystem.

The project conducted its ICO in 2018, reaching a broad investor base. Listings on platforms such as Coinbase contributed to increased credibility and visibility.

How PolySwarm Works

PolySwarm operates through its Threat Bounty mechanism, fully automated via smart contracts.

The workflow follows these steps:

Submit: A user or system submits a suspicious file, URL, or digital artifact.
Compete: Multiple security engines stake NCT tokens and submit their verdicts.
Verdict: Results are evaluated through cross-validation and historical performance data.
Ground Truth: The actual status of the threat is determined using PolyScore.
Reward or Penalty: Accurate engines receive NCT rewards, while incorrect verdicts result in stake loss.

This model differentiates PolySwarm from traditional multiscanner tools by attaching real economic consequences to every detection decision.

What Is PolyScore?

PolyScore is PolySwarm’s proprietary threat scoring system.

It evaluates:

Historical accuracy of detection engines
Confidence levels of submitted verdicts
Contextual performance data

This approach improves decision-making speed, reduces noise, and lowers false-positive rates in security operations.

Governance

PolySwarm relies on an automated economic model enforced by smart contracts. While strategic decisions are guided by the founding team and key partners, bounty distribution and arbitration processes are fully rule-based and transparent.

Roadmap Focus

Current development priorities include:

Expanding enterprise adoption through deeper Splunk integrations
Enhancing AI-driven threat hunting capabilities
Improving incentive models to optimize engine performance

NCT Token Use Cases

Threat detection staking: Security engines lock NCT to submit analysis results.
Accuracy-based rewards: Correct detections are rewarded with NCT.
Penalties for incorrect verdicts: Inaccurate submissions lead to stake loss.
Access to threat intelligence: Enterprises and analysts use NCT to access insights.
Marketplace balance: Supports specialization, competition, and data quality.

Token Information

PolySwarm NCT is a utility token operating on the Ethereum blockchain.

Token symbol: NCT
Network: Ethereum (ERC-20)

Supply metrics:

Total supply: 1.88 billion NCT
Maximum supply: 1.88 billion NCT
Circulating supply: 1.88 billion NCT

All tokens are already in circulation, with no future token minting planned.

Ecosystem Roles

PolySwarm’s ecosystem is not limited to the crypto space alone. It offers a structure similar to VirusTotal, but with economic incentives that enable faster updates. Alongside major cybersecurity companies such as Kaspersky and CrowdStrike, the ecosystem also includes specialized boutique security teams that focus on specific malware types, including certain Android-based threats.

PolySwarm’s ecosystem consists of four core participant groups:

End Users: Provide suspicious files, URLs, or artifacts for analysis.
Ambassadors: Submit artifacts to the marketplace and define bounty rewards.
Security Experts: Stake NCT and submit detection verdicts.
Arbiters: Determine ground truth and distribute rewards.

Core Features

NectarNet (Beta): Uses Passive DNS data for threat detection and rewards contributors with NCT.
PolyScore: Performance-based threat scoring supporting SOC workflows.
Reputation Algorithms: Flexible reputation models based on historical accuracy.
Early Threat Detection: Focused on zero-day and emerging malware threats.

Official Links

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