ICOs: Hacken, crypto coin dedicated to the Hackers of white hat

Nowadays, the world has undergone the rapid technological progress that brings new innovations to any field of people’s life. For example, the blockchain technology’s provided humanity with a wide range of cryptocurrencies like Bitcoin or Etherium, which have created new opportunities for the financial sector, business industry, and common people. For instance, Initial Coin Offering (ICO), which is alternative to IPO, has enabled startups to encourage new investments in a quick manner while any person can purchase even moderate amount of a company’s coins during the sale. Consequently, it is evident that blockchain facilitates the implementation of new products aimed at simplifying various processes. As a result, there are constantly launched new cryptocurrencies and tokens based on blockchain technology. In the same fashion, Hacken is going to enhance the world’s Cybersecurity by creating the brand-new Ecosystem where white hat hackers would be able to conduct penetrations testing and vulnerability research of IT products of modern IT companies.

Hacken Ecosystem

It will consist of three units:

HackenProof – it is a bug bounty and penetration assessment marketplace where white hat hackers and representatives of IT businesses will be able to cooperate fairly, thereby, getting mutual benefits. All payments within the system will be made by HKN, a custom-tailored cryptocurrency that will ensure the anonymity and financial sustainability of its holders.

Hacken Accelerator – a community center for implementing the best ideas of young and bright talents that can be squeezed by stiff competition in the market. We will support and promote the best startup companies related to Cyber Security to help them attract investments and market their products.

Annual HackIT Conference – International forum for white hat hackers when the best specialists in the field of Cyber Security will share their experience and compete for enhancing their skills. It will improve the overall expertise of vulnerability researchers and penetration testers around the globe.

Why the community need Hacken?

When hacker found a vulnerability in a vendor’s software, who owns it?

Regardless of the answer, it’s easy to come to conclude that the current vulnerability market, and in particular bug bounty – serves more the interests of companies rather than researchers. After all, It is evident that hackers create a product – the vulnerability, why then the price for it is set by a company?

As a result, due to the prevalence of this approach, worthy vulnerabilities will never be published and given to a vendor. Exactly this tendency serves as a fundamental cause of the black market and the dark web existence. Hackenproof is designed to motivate a cybercrime element at least to try to lay out a vulnerability and sell it legally before trading it on questionable forums to the same criminals or to engage in risky pursuing profit using the vulnerability found.

 

– Investors

Hacken top executives have invented “Burning principle”, an approach that will regulate the liquidity and volatility of the coin. You can learn more details about how it works in Hacken White Paper (https://hacken.io/common/files/HackenWP.pdf). In sum, it signifies that Hacken administration will gradually “burn” a part of the overall amount of HKNs in the system. As a result, people who bought HKNs during presale or main sale may profit on it. The reason is that permanently decreasing the number of the tokens will cause constant deflation, which will enable HKN holders to buy increasingly more services within Hacken Ecosystem with the same amount of coins.

Then, after burning the planned quantity of the coins, the number of people willing to sell them will decrease exponentially. This ‘critical mass’ is expected to be within 15—20% of the total amount of HKNs issued during the token sale. Undoubtedly, it will reward members of the community who are long-term investors.

An amount of coins that will be released is 20 million: (1 HKN = $1)

– White Hat Hackers

Deflation will increase the accounts receivable by Ethical Hackers, thereby, reducing risks and transaction costs when being paid for their services. Also, the circulation of the specific cryptocurrency will ensure the full anonymity of vulnerability researchers operating within the system.

In addition, there is no banking service fee, like the one for cross-border money transfers. Exchanging HKN to BTC will provide white hat hackers with access to the whole range of low commission or commission-free local cash withdrawal options.

– Businesses

Owners or managers of IT companies, as well as software developers, will be able to order any type of vulnerability research or penetration testing in accordance with their preferences and budgets. It will enable the clients to identify and eliminate Cyber Security weaknesses in the effective, organized and quick manner.

How will Hacken change the world?

We are convinced that by using blockchain technology for running the bug bounty marketplace, launching Business Accelerator and organizing the annual International HackIT Forum for skilled and talented specialists, Hacken will bring necessary innovations in the industry. Therefore, we will manage to enhance the level of the global Cyber Security, thereby, making the world a better place.

 

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The publisher of bitcoiner.today is not responsible for the opinion or recommendations expressed by its publishers. Investments in ICOs are high-risk investments, you may lose all or part of your investment. Consult with an investment specialist before you act.

Jose Felip

Jose Felip

The difficult thing is not to learn, the difficult thing is to know how to teach. Editor and coordinator of the free book "La era de las BLOCK punto COM" CEO of bitcoiner.today