Tim Draper Acquires Stake in Blockchain Cybersecurity Service Naoris Protocol
Draper Associates, the firm of billionaire venture capitalist Tim Draper, as well as a number of other notable technology investors, including Holt Xchange, Holdun Household Office, Holdun Alternative Fund, Brendan Holt Dunn, Stage One Robotics, SDC Administration, Uniera, Skilled Dojo, and a number of different angel investors, have invested $11.5 million in the blockchain-based cybersecurity solution Naoris Protocol.
Using blockchain technology, Naoris Protocol is developing an innovative cybersecurity community. AI-based risk management and a mesh-based decentralized validator architecture allow consumers and businesses complete control over their data and digital security. Because of its unique blockchain-powered CyberSecurity Mesh HyperStructure, the Naoris Protocol transforms any participating network device into a trustworthy validator node.
Tim Draper states that “Naoris Protocol is designing a groundbreaking distributed cybersecurity solution.” Draper Associates is excited to support Naoris’ efforts since they see cybersecurity as an industry with boundless potential.
The Naoris Protocol is expected to provide its minimum viable product by the end of 2022. The Naoris team intends to make the whole solution accessible to consumers from a variety of Web2 organizations, including banks, civil infrastructure, state and national agencies, and healthcare providers, by the middle of 2023.
“Our vision is to use the cryptographic energy of the many through blockchain to fundamentally change how trust occurs between devices and applications on the internet, from individual customers to corporations and significant areas,” says David Carvalho, chief executive officer of Naoris Protocol.
Existing cybersecurity measures are fundamentally insufficient to combat ever-developing cyber threats. Because the Web2 ecosystem is so dependent on centralized security techniques, end users lose control over their personal data. Furthermore, in today’s culture of hybrid and remote-first work, numerous “insecure” endpoints have been formed by several devices linked to a centralized network.
In contrast, the Naoris Protocol radically transforms the way traditional cybersecurity solutions approach the concept of safety. Instead of a network of autonomously operated, siloed devices that might be the gateway to a single point of failure, Naoris use the dPoSec (Distributed Proof of Safety) consensus process to provide baseline security and act as a completely decentralized belief system.
Furthermore, Naoris’ CyberSecurity Mesh HyperStructure, which employs the dPoSec technique, may offer scalable and interoperable identity-based security, integrating all properties, independent of location, under the same integrated safety framework.
In other words, the cybersecurity solutions provided by Naoris Protocol may assist individuals and companies, especially remote-first and decentralized businesses, in addressing present security issues. Naoris maintains a Zero-Trust architecture with its decentralized CyberSecurity Mesh HyperStructure while eradicating risks from every device (endpoint).
As a consequence, the Naoris Protocol is not meant to compete with existing solutions. Instead, it is meant to supplement existing cybersecurity solutions by finding and verifying data via the use of AI (artificial intelligence) and a network of decentralized, peer-to-peer validator nodes. According to the underlying HyperStructure network, security weaknesses may be discovered in minutes and up to 90% of the value lost as a consequence of certain cybersecurity disasters can be recovered.