BitFence (HNY) ICO review
Problem: 100% of companies in the world are getting attacked by the hackers and the average detection time is 256 days (2015 Ponemon Report) leading to enormous economic and privacy damages. Similar attacks repeated against multiple targets before they are detected, understood and mitigated. Solution: BitFence Detects, deflects, and counteracts attempts at unauthorized use of information systems and gives your security team an unfair advantage over hackers. HNY Token: Community members "mine" hackers by running honeynet nodes are rewarded with HNY tokens. We correlate information together and provide 0-day threat feeds to customers who can purchase subscription with HNY tokens. Patent pending.
Mission of BitFence Cyber Solution is to reduce the average detection time of zero-day malware as well as adopt and deploy a proactive defensive approach/solution to mitigate other systems from similar cyber threats.
BitFence offers its users with tools required to scale the growth of cyber threat and protects networks proactively, before any harm would have occurred to the network and related assets.
BitFence ecosystem consists of following three main parts:
- Installation of BitFence designed Distributed Sensor Network (also known as Distributed HoneyPot). BitFence offers the incentives to anyone who runs BitFence designed software and/or hardware “miner”. These miners will automatically detect and reports suspicious cyber related activities. The miners will get rewards through distribution of BitFence ‘HNY’ Tokens.
- Malicious and suspicious data being gathered by miners will automatically be analyzed, processed and ranked (in accordance with risk factor) by artificial intelligence algorithm in real time. The list of signatures therefore be updated accordingly.
- Finally, once the data is processed and malicious actors (hackers) are identified, the information is instantaneously fed to all BitFence subscriber in order to mitigate them with similar threat.