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What is PolySwarm?

PolySwarm (NCT) is a utility token on the Ethereum blockchain, powering the PolySwarm Marketplace, a community and network for detecting malware. NCT rewards users who provide relevant cybersecurity threat intelligence and is used to facilitate marketplace transactions.

How is PolySwarm used?

PolySwarm (NCT) is a utility token used within the PolySwarm ecosystem, a decentralized cybersecurity threat detection and intelligence platform. Here are the key ways NCT is utilized:

  1. Reward Mechanism: NCT is used to incentivize accurate threat detection. Security experts, known as "Engines," are rewarded with NCT tokens for providing accurate threat intelligence. This encourages continuous improvement and participation, aligning the interests of security experts with the need for accurate cybersecurity data.

  2. Staking and Mining: Users can stake their NCT holdings on the validity of specific threats or actively mine more context around threat data. This process helps prioritize threats and rewards users for their contributions.

  3. Access to Advanced Threat Intelligence: Users spend NCT to submit potential threats for analysis and to access advanced threat intelligence gathered across the network. This setup encourages a competitive environment where experts are motivated to provide precise and timely data.

  1. Marketplace Transactions: NCT facilitates transactions within the PolySwarm marketplace, ensuring transparency and security for these transactions.

  2. User Participation: Users participating in the NectarNet Beta program contribute DNS query data and receive NCT rewards, making PolySwarm one of the first platforms to monetize user-contributed data for enhancing cybersecurity measures.

Overall, NCT plays a crucial role in driving engagement and enhancing the network's value by rewarding contributions that help improve global cybersecurity defenses.

How do I store PolySwarm?

To store PolySwarm (NCT) tokens, you have several options:

  1. Hard Wallets: Ledger or Trezor are recommended for secure storage. These wallets provide a high level of security and control over your tokens.

  2. Guarda Wallet: This wallet supports all ERC-20 tokens, including NCT. It is a great option, especially if you have a Ledger device, as you can manage your coins on Ledger using Guarda's interface.

  3. Atomic Wallet: This multi-asset wallet supports over 1000 coins and tokens, including NCT. It offers features like instant swapping, staking, and buying crypto assets. Atomic Wallet is known for its private and secured environment, with 24/7 online support.

  1. PolySwarm Wallet: The official PolySwarm wallet is also available for managing NCT tokens. It is integrated into the PolySwarm platform and allows for easy management of tokens within the ecosystem.

  2. Other Wallets: There are additional wallet options available, such as Bitcompare, which provides a step-by-step guide for staking NCT tokens.

It is essential to choose a wallet that fits your needs and provides the necessary security and features for managing your NCT tokens effectively.

How to buy PolySwarm?

To buy PolySwarm (NCT) tokens, you can follow these steps:

  1. Create an account: Sign up for a cryptocurrency exchange that supports PolySwarm, such as Coinbase, Gate.io, or HTX.
  2. Add a payment method: Connect a payment method like a bank account, debit card, or credit card to your exchange account.
  3. Deposit funds: Deposit the desired amount of funds into your exchange account using your chosen payment method.
  4. Select PolySwarm: Find PolySwarm (NCT) in the exchange's asset list and select it for purchase.
  5. Enter the amount: Enter the amount of PolySwarm you want to buy, and the exchange will automatically convert it to your local currency.
  6. Finalize the purchase: Review the details and confirm your purchase. The tokens will be added to your exchange wallet.

Alternatively, you can also use decentralized exchanges (DEXs) like Uniswap or Sushiwap. For this, you will need to:

  1. Download a Web3 wallet: Install a Web3 wallet like Metamask or Trust Wallet.
  2. Create and set up a new wallet: Set up your wallet and ensure it is supported by the DEX.
  3. Transfer ETH or other mainnet cryptocurrency: Transfer the necessary cryptocurrency (e.g., ETH for Ethereum-based DEXs) to your wallet.
  4. Connect to the DEX: Connect your wallet to the DEX and select PolySwarm (NCT) for trading.
  5. Swap for PolySwarm: Swap your cryptocurrency for PolySwarm tokens, and confirm the transaction.

Please note that availability and procedures may vary depending on your location and the exchange or DEX you use.

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