There is a huge problem today with hackers. Often times, companies can go months before realizing that there has been a breach of their systems and data. The same company may be hacked repeatedly before any action is taken. BitFence is now offering a solution to this problem. BitFence can deflect, detect, and counteract hacking attempts. This gives the advantage back to companies instead of the hackers. BitFence can provide protection against what are known as "zero day" attacks. This type of attack is where a hacker takes advantage of an unknown exploit. These kinds of attacks can be very hard to detect traditionally. Once the hack is discovered, a patch or fix can be deployed, but this often takes months to discover.
In addition to providing protection against zero day attacks, BitFence will give an incentive to people who run honeypots for BitFence. A honeypot is designed to attract hackers. Then, when the hacker is in the honeypot, BitFence can capture and analyze details about each hacker using sophisticated artificial intelligence software. This information is then used to provide alerts and protection to BitFence subscribers. The users who run these Distributed HoneyPots are rewarded with HNY tokens. They are calling the people who run these honeypots miners. Anything that is found to be suspicious will be automatically processed, analyzed, and then ranked all in real time. If a hacker is found, the information is sent out to all subscribers of BitFence so everyone will have the information about that particular hacker and threat.
BitFence will offer companies a subscription service for protection against many threats such as blocking hosts that are high risk, blocking high risk IP addresses, and blocking of malicious payloads. One of the great things about BitFence is that people can earn a passive income for providing mining services. Users do not need expensive equipment to mine for BitFence. Their application can be run on a small computer with Raspberry Pi for instance. HNY tokens are ERC20 tokens, and they can be mined and then sold for other coins like BitCoin. Rewards will vary based on the uniqueness of the threat and the level of the threat risk. In addition to mining in order to receive HNY tokens, they are offering a token sale for fund raising.
There are going to be two sources of revenue for BitFence. The first is various levels of subscription services. The second is with the sale of BitFence hardware. Hardware available for purchase will include pre configured routers and pre installed mining software. There are also plans to have mining software available for Android and iOS devices in the future. There will be a number of different subscription time frames including 3 months, 6 months, one year, two years, and three years. HNY tokens will be an accepted form of payment for goods and services.
I think this is a great idea and will be very beneficial for preventing and detection of cyber attacks. If you want more information about BitFence, you can visit their website which I have listed below along with a link to their detailed whitepaper.
Whitepaper: https://bitfence.io/data/BitFenceWP-EN-1.6b.pdf
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