ICO project “LAOCON” by Japanese team start SERCRET SALE
LAOCON PLATFORM is a Bug Bounty platform that provides a security testing service to users all over the world
【Outline】
The LAOCON PLATFORM will help provide a blockchain technology enabled version of a bug bounty program. An application developer (whether enterprise or individual) would upload their web service or application onto the platform with a reward (LAO tokens) that incentivize white hat hackers to conduct security tests. White hat hacker(s) that succeed would provide a report on the LAOCON platform, documenting the vulnerabilities of the web service/application. The developer may decide to view the report by distributing the reward.
We believe LAOCON platform will be able to provide the following benefits to its stakeholders：
⒈ Access to higher-quality service at lower cost
Because of LAOCON’s global reach and consequently access to a greater pool of talent, removal of the middleperson, and result-based compensation structure, developers would be able to receive comparatively higher quality of service at a lower cost than they would via traditional methods.
⒉ Matching Cybersecurity Supply and Demand
Under the circumstance that there is a shortage in cybersecurity personnel, the LAOCON platform will help bridge cybersecurity supply and demand via two means. In the first method, LAOCON will help connect developers with cybersecurity personnel around the world through a bug bounty program model. In the second method, LAOCON will provide talent-acquisition (recruiting) service to developers by harnessing platform data such as user profiles, cybersecurity expertise, and performance records.
⒊ Strengthening Cybersecurity
As white hat hackers test their methods against web services and applications uploaded onto LAOCON, our platform will accumulate the latest information on application vulnerabilities and cyberattack methods. By harnessing these information and providing consulting services to independent and enterprise application developers, we can help strengthen their programs to cyberattacks.
First token（this sales token）is issued for ICO based on ERC 20. After ICO is completed, an original token is issued and is bound with an existing token. The original is issued to cover the scalability problem of BTC · ETH, and it is connected to CHAIN which guarantees the user’s credibility.
LAOCON is a simple project based on business schemes, which does not have the characteristics requiring expertise to understand the project like “AI (Big data) security project” which can be said to be the theory of security ICO.
LAOCON is planning to implement POC (proof of concept) during the ICO period and will release the trial version product by the end of 2019.
