Hacken ICO Date: 31st October 2017-30th November 2017.
Hacken builds the next level of application security and makes perfecting your code and network architecture more affordable by uniting the best European and global human expertise with advanced cybersecurity machine learning. Currently their primary focus is blockchain technology that offers prodigious promise to global finance and even state governance, while still being supported by an infrastructure that is rather volatile. They are determined to become the medium of cooperation between the blockchain community and global cybersecurity experts, whose expertise is based on the real life defense and penetrations.
BACKGROUND.
$32M stolen from Parity and $74M from Coindash in 2017, $72M from Bitfinex in 2016, $5.1M from Bitstamp in 2015, $65M from Mt. Gox in 2014. These are gruesome fiat equivalents lost to hackers by various cryptocurrency infrastructure projects.
According to Tyler Moore of Tulsa’s Tandy School of Computer Science since bitcoin’s inception in 2009 to March 2015, around 33% of all bitcoin exchanges during that period were hacked. Cryptocurrencies certainly are not the only businesses distressed by hackers. US President Donald Trump, himself a subject of a recent cybersecurity controversy, stated that cyber theft is the fastest growing crime in the United States by far.
Unfortunately, it’s not always easy for white hat hackers to provide their services due to a lack of anonymity, transparency of the working process, and ambiguous legal status of their activity. For example, a customer can refuse to pay for vulnerabilities threatening to sue a bounty hunter for violating its cyber protection. In turn, blockchain can easily resolve this problem through smart contracts. Eventually, dedicated cryptocurrency can ensure the full anonymity of a CS researcher.
Hacken could lay down the future white hat cybersecurity community framework of Eastern Europe by creating a stable means of income and financial incentives for its members. In the long run, participation in the Hacken Ecosystem will make sure the next generation of local computer whiz kids will be on your side of the firewall.
HOW IT WORKS.
Here’s the basic process by which anyone can use Hacken:
- Step 1) Customers sign up for the bounty hunting program, choose a defined program policy, decide on invitations and rewards, and set the level of bounty payment.
- Step 2) Experts help customers setup and customize their program, then manage the program if needed.
- Step 3) After the scope of the security assessment is established, the team invites the Hacken community to participate in the assessment; hundreds of white hats evaluate the customer’s code for vulnerabilities and bugs.
- Step 4) Community members submit and prioritize vulnerabilities, and the reports are checked for relevance and originality.
- Step 5) Community members receive a fee for discovering valuable vulnerabilities.
- Step 6) The customer can additionally order advice from the Hacken security solution architects team to develop countermeasures if necessary.
- Step 7) The customer gets a Vulnerabilities Certificate, attesting that his or her software was examined and tested by the Hacken community; customers can also choose to have a separate Countermeasures section in the certificate, which lists all of the issues that were discovered and patched.
BLOCKCHAIN LEVERAGES.
Proof of Vulnerability Testing.
When clients sign the bug bounty program agreement, the Hacken team creates a relevant blockchain block containing data about the product, the terms of service agreement and a timestamp. The next block of the chain, which is specific to this client, will contain information on vulnerabilities discovered during the security research.
After clients resolve the vulnerabilities that were discovered during the bug bounty research, HackenProof experts conduct a post-research audit. They then discuss their findings with the clients and advise any additional measures which need to be taken. Should the findings of the audit be satisfactory to both parties, the Hacken team and the clients, the next block is formed in the chain, which contains information about the issues that were resolved.
At the end, clients receive a HackenProof Vulnerabilities and Countermeasures Certificate, containing a report on all the vulnerabilities discovered and resolved with a timestamp for each event. Clients can then adjust their Blockchain sharing preferences and publish the certificate to the public, customers, investors or to whomever they designate.
Cryptocurrency.
Hacken has designed a unique way to pay back investors without violating the Howey test. The burning principle will be applied to manage volatility and liquidity of the token. According to this approach, half of commission from each transaction will be deactivated forever. Thus, it provides additional value to the token holders.
Smart contracts.
USERS.
Community Members Who Bought Hackens:
- Permanently decreasing the amount of coins will cause permanent deflation, which will enable you to buy increasingly more services within Hacken Ecosystem with the same amount of tokens.
- After burning the critical mass of hackens, the amount of people willing to sell them will decrease exponentially. It’s expected that this ‘critical mass’ will be within the 15–20% of the total amount of Hackens issued during the token sale. This will reward community members for seeing themselves as long term investors.
Blockchain and Cybersecurity Communities:
- Hacken enables transparent financial incentives for talented white hackers willing to improve blockchain security.
- Fosters cross-pollination of expertise between the blockchain and cybersecurity professionals.
- Diverts talent from cybercrime and unethical online businesses.
HACKEN TOKEN USES.
Hacken is the only currency accepted inside the Hacken ecosystem. Any new orders via HackenProof, Unreported Zero-Day Remuneration Platform, CybersecurityAnalytdcs Center or new investments via Hacker Accelerator must be made in Hackens. This will reward community members who get paid in Hackens, by providing positive liquidity and low volatility.
PREVIOUS ACTIVITY.
The team has past experience in the Cyber Security industry. They already have CTF platform, where the Hackit CTF is done. This year they had 1300 teams and around 5000 white hats working online at the same time.
ROADMAP.
HOW ADVANCED IS IT?
The Alpha version of the Hackenproof was expected to be presented in the beginning of October.
WORKING PRODUCT.
The HackenProof Marketplace will be launched in Q4 2017.
SIMILAR PROJECTS.
Quantstamp.
Quantstamp claims to be the first decentralized smart contract security platform. Basically, it’s a security audit protocol designed to find vulnerabilities in Ethereum smart contracts.
HOW IS DIFFERENT FROM OTHER PROJECTS IN THE SPACE?
- The existing companies provide a limited scope of Cyber Security services. The existing CS companies sell complex solutions that can be expensive for SME. Hacken will provide SMEs with simple and convenient online tools to organize and run bug bounty and penetration testing campaigns.
- Secondly, the scope of hacking approaches grows every day, thus, new solutions for them must be invented. In turn, Hacken will satisfy the needs of both parties by creating a global bug bounty marketplace where white hat hackers can work remotely using their skills in accordance with the current demand. For businesses, they will be able to order a certain CS service according to their needs and budgets.
- The Hacken cybersecurity ecosystem is custom-tailored for blockchain. Being blockchain entrepreneurs, they claim to understand this technology, its nuances, risks and its community better than most of the current cybersecurity establishment.
USER REVIEWS.
[MARKETPLACE FOR WHITE HAT HACKERS => nice ideal ]
[I could not understand the reason of this project. What is decentralize in it, Hackers or HKN token. What is the need of decentralized in this field? And How will HKN token and decentralization is helpful because of this project. Please elaborate]
[We are building platform, that is providing Cebersecurity services, and when clients of our platform sign the bug bounty program agreement, our team creates a relevant blockchain block containing data about the product, the terms of service agreement and a timestamp. The next block of the chain, which is specific to this client, will contain information on vulnerabilities, discovered during our security research. Also we will build Cybersecurity Analytics Center, with such areas of research: Blockchain security, vulnerabilities and countermeasures. All services are charged ONLY in Hackens.]
[This epic battle between White Hat Hackers and Black Hat Hackers reminds me of the Star Wars Force vs Dark side of the Force battle ]
[It is more on real thing not just like the movies, there are more blackhat hackers than whitehat . Pointing this project how this will help the community by using a blockchain technology and providing security for the people who will contribute in this ?]
[Now this is very interesting and never even heard of before let alone seen. Selling and buying your hacking skills sounds really amazing and gives people a place to go and careers can even be made there. Will be interesting to see how it evolves.]
[good project , but 1hkn=1$ ,look like so expensive for me . i shold think twice about the investment.]
[There is only 20million HKN tokens and at a dollar each only makes the marketcap 20 million USD. That does not even make Hacken on the top 100 of coinmarketcap.com There will be a lot of room for growth. Hacken tokens are very cheap. ]
[One of the greatest enemy of cryptocurrency and ICO’s are hackers.]
[most of them are in phising and spamming, specially in slack. there are so many spammers there. hacken should create a solution to those kind of problems in cyber-security.]
[This looks good, combining cryptocurrency and cybersecurity, two rising and growing fields in the future. The team looks capable, the whitepaper is legit and the market cap is not too big. Definitely investing on this.]
[The main business of the Hacken is providing the cybersecurity. Some of other business that is bundeled in this eco-system are Cybersecurity Analytics Center and HackIT Conference. Unreported zero-Day Remuneration Platform, bug bounty marketplace, and Hacken cybersecurity Startups Incubator.]
[The First in its kind, i like the idea and the Team behind it, to success. Hacken Ecosystem is a community driven business organization created to nourish the connection between blockchain and cybersecurity communities, promote hacker ethics and encourage legitimate research of computer networks and software.]
[With the help of the efforts of hackers and Haken platform it is quite possible to unblock smart contracts of the purse Parity …Am I right or not?]
[If the White Hackers are incentivized, They would be motivated and can find hidden bugs before the can exploited by the black-hat hackers. Should the hacken team launch their platform, we should be seeing little to no hack incidents.]
[Can we have an estimate of how many tokens are burned every year?]
[If you are talking about Hacken burning principle then burning HKN tokens will depend on the users on the platform, there will be 30% charge for each transaction and 15% of it will be burned while other 15% is accumulated for platform development.]
