Technology is the backbone of today’s business sector.
The modern global business sector has developed rapidly and brought in beneficial innovations to the industry in the recent years thanks to similarly rapid advances in technologies.
Because of this growth, there exists a demand in the industry for small and middle-sized enterprises to produce new IT products to meet a business’ goals. For example, a business may want to have their own custom accounting software or a payroll software.
There is a major downside to this growth, however.
The same consumer products developed by these SMEs for businesses are a hotbed for hackers looking to disrupt the systems for the thrill of it or for some other personal reasons of their own.
The #1 factor for these hacks is the lack of cybersecurity, an incredibly expensive endeavor for many SMEs let alone small businesses.
At the same time, the lack of cybersecurity also punishes them heavily which often leads to bankruptcy and an abandoned product.
The hackers who did this all this while stay unpunished despite costing millions in losses.
Because hackers know that small businesses cannot afford to have updated IT security practices in their products quickly and regularly, they increase the tendency of these hackers to attack their products which highlights a real issue that is happening right now.
Hacken is a blockchain-based platform that aims to solve cybersecurity issues for businesses as well as building the next level of application security.
The idea behind Hacken is a unique yet ingenious one.
Hacken is a blockchain-powered cybersecurity ecosystem for white-hat hacking (also known as ethical hacking).
White hat hackers are professional hackers that specialize in testing and enhancing the security of an IT system through exposing bugs or vulnerabilities within a system hence the term ethical hacking.
The Hacken marketplace, a core component of the Hacken platform, connects white-hat hackers with developers or teams that require bug-testing and subsequent bug fixes or enhancements to their systems.
So, by investing in Hacken, you’re literally encouraging the work of white hat hackers who are considered the good guys of the IT industry to produce advanced and extremely secure IT systems which bring nothing but benefits to all parties involved.
The platform also supports white hat hackers by helping to enhance their code and applications by using advanced cybersecurity machine learning as well as the human expertise of talented individuals across the world.
Hacken also provides an individual service based on the unique code sources of every client on the platform to test for bugs and weaknesses within their IT systems.
The service offers a wide range of customization options for each bug bounty program which is then managed and organized by Hacken.
As a result, businesses and companies enjoy better application security thanks to a robust network of experts in applications security.
The platform also aims to become the medium of cooperation between the blockchain community where security is still an issue and global cybersecurity experts.
The HackenProof Marketplace
The marketplace is a bug bounty marketplace where users can send their code to be scanned for bugs, exploits, and vulnerabilities by white-hat hackers.
The Unreported Zero-Day Remuneration Platform
Zero-day exploits are vulnerabilities in a system that is unknown to the owner. These exploits are often sold onto black hat hacker online marketplaces before it gets fixed.
Hacken aims to prevent this by offering a better incentive – a transparent remuneration platform where companies can purchase zero-day exploits from white-hat hackers.
A Full-Fledged Cybersecurity Analytics Center
The Analytics Center is a research and analytics platform that supports the ecosystem by updating platform users about the latest updates or threats related to cybersecurity.
Researches are accessed via subscriptions or a direct acquisition basis.
The Hacken Accelerator
Hacken supports the community by encouraging the creation and growth of cybersecurity startups within the platform.
Hacken also plans to include a money-back guarantee for all services in the Hacken platform. If a client finds a major exploit in their IT system or application after it receives a certification from Hacken, the client gets his or her money back in full.
Hacken will launch a token sale for the HKN token.
A unique characteristic of the HKN token is that it implements a burning mechanism which reduces the total supply of HKN over time by “burning” the coins which means HKN tokens are periodically removed from the total supply.
The burning process works this way; when the Hacken platform is launched, Hacken will charge a 30% fee for each transaction on the platform and then remove half of the fee from the system.
Hence, the total supply of HKN will reduce over time which will cause the value of the HKN token to rise constantly.
Because of the reduced supply, customers can buy more services with their HKN while white-hat hackers earn more as the tokens become more valuable over time.
The infographic below explains the burning process effectively.
Token name: HKN
Token base: Ethereum (ERC-20 compliant)
Token supply: 20,000,000 (18,700,000 on sale during the public token sale)
Token sale duration: 31st of October, 2017 to the 30th of November, 2017
Token sale target: $20,000,000