Crypto Fundamental Review: Hacken (HKN)

Today, I will be talking about Hacken, a new player in the cybersecurity industry.

I will be writing about coins I am interested in, but this is not in any way an investment advice. Do your own research before investing !

Let's get to it !

Project / Idea

Hacken offers a cybersecurity utility token for a full stack of countermeasures, aimed at reducing threats, vulnerabilities, and attacks by eliminating or preventing them - HKN is the only payment method inside the Hacken Ecosystem.

Project Details

• Hacken is an ERC20 token and as such based on the ETH platform so that it can use the underlying Ethereum smart-contracting functionalities.
• The purposes of the plateform are high quality penetration testing and vulnerability reports for a premium fee paid to community members submitting these reports. Working on blockchain technology, the platform interactions are decentralised, work via smart contracting logic, and the utilised token is the “Hacken” or HKN.
• One of the pillars of the Hacken suite entails building a team that will perform fundamental cybersecurity research, as well as monitor and audit existing and upcoming cybersecurity products.
• Hacken will also be engaging in project incubator services and directly invest in promising start-ups (The Accelerator is postponed somewhat due to specific law restrictions in their Hacken’s country of residence (Ukrain))
• Hacken’s CER (Crypto Exchange Ranks) provides users with a professional and intuitive crypto exchange analysis platform. The system offers users access to real-time, objective statistics, gathered and processed using the advanced algorithms and precise mathematical models.
• Hacken Wants to engage in a Start Up Incubation ecosystem.
• HackenProof is Hacken's current main product --> Which is a bug bounty marketplace platform
• Hacken charges 30% for each transaction on the platfom: 15% is burned (Once accumulated amount reaches 1% of coins in circulation) and 15% accumulated for platform developpment.
• A specific coin burn-rate mechanism decreases the overall supply continuously, putting a special cap on supply and therefore a push on the token price --> Next burning event on 4Q 2018.

Partnerships/Clients

• VeChain, Nucleus Vision, Jibrel Network, NEUROMATION, TTC Protocol
• 11 Public Clients + 35 Private Clients
• VeChain launched three bug bounty programs on HackenProof
• TTC Protocol launched a bug bounty on hacken proof
• 591 White Hat Hackers + 223 Reports + 50 Valid Bugs + 5 Bug Programs

Competitors

• QuantStamp (On the Blockchain --> For Smart Contracts Auditing)
• Cybersecurity Businesses Outside of the Blockchain (HackerOne …)

Applications

• Anti-Phishing: 24h response aimed at immediate blocking and takedown of fraudulant sites, social accounts…
• Penetration Testing: Initial Assessment of the cybersecurity system of an IT product…
• Smart Contract Audits: Ensuring the safety of doing business on the blockchain...
• Bug Bounty: An assessment of a product that allows you to pay only for bugs..."

RoadMap

• CER Released in Q2 2018
• Hacken MarketPlace in Q4
• Hacken Proof: Oct 30 Source Code Proof Programs --> Nov 30 Smart Profile Filing --> DEC 30 Decentralized review protocol MVP Release"

Team

• Dmytro Budorin CEO: he worked in Deloitte for 8 years in various audit, ERP implementation, and project management positions.
• Andrii Matiukhin CTO: has 13 years of successful experience in cybersecurity and implementation of technologies: he worked with such vendors as CheckPoint, Cisco, and Juniper Networks. "

Critics

Competition from Outside the Blockchain ecosystem

Rating

Ranked 662 on CMC