Cybersecurity in crypto is a mess right now—there's another big hack nearly every week. Cybersecurity firm Forta aims to take this on by attempting to build a crypto-first version of centralized cyber firms like CrowdStrike or Palo Alto Networks. And to do it, Forta is releasing its own FORT token, intended to increase the incentives for security researchers to monitor blockchain networks.
Forta Foundation's ecosystem lead Andy Beal explained in an interview with Decrypt that Forta takes a decentralized approach to security by working with a loose federation of researchers who deploy bots to patrol various corners of the blockchain world.
Beal said the bots are deployed by a network of nodes to act as a kind of security camera network to monitor for abnormal activities. If a bot encounters something suspicious, it relays the information to a node, which in turn triggers an alarm.
A number of major blockchain projects—including Lido, Compound and Polygon—are already using Forta to...
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