Hacken is building a cybersecurity marketplace, as well as launching an accelerator program for cybersecurity start-ups. The marketplace will make use of blockchain and smart contract technology. The firm has announced that they will be running an ICO token sale starting on 12th October 2017.

HackenProof

The Hacken marketplace, going under the name ‘HackenProof’, provides a platform for ‘white hat’ hackers (meaning ethical hackers) to offer their services and to get rewarded for their own independent research. Based on the principle of fair share, it also aims to foster greater cooperation between cybersecurity and cryptocurrency communities.

The HackenProof marketplace will offer the highest level of flexibility to clients seeking the services of white hat hackers. Customers can create campaigns which are self-managed or with a dedicated campaign manager, and can make these campaigns public or invite only. Clients can offer bug bounties to fix known problems, order high quality penetration testing or purchase vulnerability assessments. The entire process, along with the findings, will be time stamped and published to the blockchain with a HackenProof Vulnerabilities and Countermeasures Certificate issued for each project.

In addition to this marketplace, HackenProof will also include a zero-day remuneration platform and a CyberSecurity analytics centre.

The remuneration platform will be based around a dedicated fund that will specialize in acquiring previously unreported zero-day vulnerabilities. Using capital raised in the upcoming ICO sale described below, this fund will collate research on regulatory and legislative frameworks in all major jurisdictions in order to create a global initiative to support ethical reporting of software vulnerabilities.

The CyberSecurity analytics centre will be made up of a team of analysts performing fundamental research and well as monitoring and auditing security products. It will provide consulting for corporate cybersecurity research, expert clearance, and independent product comparisons. An existing community of white hat hackers based around HackIT, a major eastern European conference, stand ready to provide these services. The primary areas of research covered by this team will be:

  • Blockchain security
  • Cryptography, secure communications and data protection
  • Big data analytics and visualisation
  • Vulnerabilities and countermeasures
  • Classification and comparison of security products

Hacken Accelerator

Alongside the marketplace itself, a specialist accelerator program will incubate and support the growth of related projects created by Hacken community members. Start-ups wishing to join this program will go through a selection process overseen by a public board of experts. If selected, projects will sign an option agreement with Hacken for approximately 25% of their equity. The first participants will be selected this year, during HackIT 2017 in Ukraine.

The Token and ICO

Services within the Hacken ecosystem can be purchased only using the HKN token. That includes both orders placed on HackenProof and also investments in Hacken Accelerator projects. Half of Hacken’s profits from these payments is burned, permanently removing those tokens from the supply and thereby increasing the value of all remaining tokens.

In total, 20 million tokens will be generated, and interested investors may purchase tokens for a price of $1 each. Token purchases can be made using BTC, ETH, DASH, LTC, USD and EUR.

For more information about Hacken, the HKN token, and the ICO crowdsale take a look at the website: https://hacken.io/