ABOUT BITFENCE
The purpose of the Article is to present BitFence and HNY Token to potential token holders in connection with the sale of the proposed Token. The information listed below may be incomplete and does not imply any element of any contractual relationship. The sole purpose is to provide relevant and sensible information to the potential token holders in order for them to determine whether to conduct a thorough analysis of the company in order to purchase HNY Token. HNY Token is a utility token. This product is not a digital currency, security, commodity, or other type of financial instrument and has not been registered under the Securities Act, United States securities laws or any other state securities laws, including securities laws of any jurisdiction the potential token holder is a resident. HNY Tokens can not be used for any purpose other than those provided in Whitepaper, including but not limited to, any investment, speculative or other financial purposes. HNY Token is not intended for sale or use in jurisdictions where the sale or use of digital tokens may be prohibited. HNY Token does not grant any rights in any form, including but not limited to ownership, distribution (including but not limited to profits), redemption, liquidation, ownership (including any form of intellectual property), or other legal or other rights, which is specifically described in Whitepaper. The statements, estimates, and certain financial information contained in this Whitepaper are forward-looking statements or information. Such forward-looking statements or information involve known and unknown risks and uncertainties that may cause events or tangible results to differ materially from the forecasts or results implied or disclosed in such forward-looking statements.
WHY BITFENCE
BitFence Cyber Security is a global intelligent contract-based Cyber threat prevention system that offers a direct and unmatched advantage over existing network security solutions. In addition, in addition to the zero-day defense, BitFence also provides incentives (1) to those who deploy BitFence configure honeypots (2) to attract distributed hackers around the world. When hackers break into BitFence Honeypots, the system captures and analyzes the attacker’s signatures using specially designed Artificial Intelligence software and alerts / sends threat protection to all of its customers. For example, if Company ‘A’ who is already a BitFence customer located in the United States is attacked by a hacker; customers of other systems residing in other regions (eg in Europe, Asia or Africa, etc.) will be protected from similar attacks in seconds.
BitFence Detects, deflects, and counteracts attempts at unauthorized use of information systems and gives your security team an unfair advantage over hackers.
MISSION
The BitFence Cyber Solution mission is to reduce the average detection time of zero-day malware and to adopt and deploy a proactive defensive approach / solution to reduce other systems from similar cyber threats.
HIGH LEVEL OPERATIONAL CONCEPT
BitFence offers its users the tools necessary to measure the growth of cyber threats and protect the network proactively, before any harm occurs on networks and related assets. The BitFence ecosystem consists of following three main sections:
1. Installation of BitFence designed Distributed Sensor Network (also known as Distributed HoneyPot). BitFence offers incentives to anyone who runs software designed by BitFence and / or “miner” hardware. This miner will automatically detect and report suspiciously related virtual activities. The miners will be rewarded through the distribution of BitFence ‘HNY’ Tokens.
2. Dangerous and suspicious data collected by miners will automatically be analyzed, processed and ranked (according to risk factors) by artificial intelligence algorithms in real time. Therefore the signature list will be updated.
3. Finally, once data has been processed and malicious offenders (hackers) are identified, the information is instantly fed to all BitFence customers to mitigate them with similar threats.
EXAMPLES OF USECASES
To understand the operational concepts of BitFence Cyber Threat Intelligence solutions, some Use Case with different scenarios are illustrated below:
Use Case # 1 – Small Enterprise Scenario ‘A’
Company ‘A’ is a small-scale business that produces toys for children. The company has an eCommerce business hosted in the cloud. Company websites, eCommerce stores along with servers and databases are in constant attack by hackers using different techniques – such as port scanning, flooding, SQL injection type attacks, PHP exploits, etc. Due to this constant attack, the availability of websites, personal customers information, and company assets are always at risk.
To address this threat, BitFence offers the most effective and fully integrated protection solution at a very minimal cost compared to competitors such as FireEye, McAfee, RSA. The competitor’s solution is very complex with a minimum cost of at least $ 5K per month for integrated protection.
The protection provided by BitFence will be able to block high risk hosts, dangerous payloads and high risk IP addresses linked automatically within seconds after threats are identified and assessed by the BitFence miner’s artificial intelligence and intelligence software with very reasonable monthly subscriptions.
Use Case # 2 – Company Scenario ‘B’ with multiple cloud service providers
Company ‘B’ is a consulting firm with several offices located in different places using several cloud service providers hosted by Amazon Web Services, Microsoft Azure, Google Cloud and IBM Cloud etc. VPN with F5 gateway has also been used. The company notices that this service is always attacked by hackers. Because of these attacks, company-sensitive information such as intellectual property data, network loss, security breaches may occur.
The company employs a proactive Information Systems Administrator who regularly monitors the network and updates Firewall policies of the company. Most Commercial-Off-The-Shelf (COTS) gateways and routers contain the ability to integrate threat feeds from external sources and can therefore be blocked. The majority of threat feeds can be purchased and contain good information about malicious hosts. However, this information usually contains old information to act on. For example, it is likely that the same attacker will use an existing IP address and leave the same trace for very low search purposes.
BitFence solutions offer medium-sized companies with multiple locations by giving them access to zero-day vulnerabilities by miners who subscribe to BitFence. By utilizing BitFence miners, such companies do not deal with the outdated information they get from external sources.
Use Case # 3 – Large Enterprise Scenario with Information Security Dept. of reasonable size
Large companies contain dedicated security teams in each location. The company adopts a variety of intelligence detection and threat mitigation equipment from a number of providers such as FireEye, Infoblox, LookingGlass, McAfee, RSA, SecureWorks, Symantec or VeriSign. The company also contracted security vendors of its choice with security packages and complex threat intelligence solutions. In addition, companies face problems with extensive data traffic even after many “data rejection”. For data mining and log reviews, Hadoop Solution is used. Given the enormous data collection, it is difficult to review logs that correlate with some real-time zero-day type threats.
BitFence API and worldwide feed threats run by miners, will be seamlessly integrated into custom software solutions to provide zero-day vulnerability prospects to existing threats to dramatically improve system security.
Use Case # 4 – Opportunities for Miners to Generate HNY Token
If someone wants to earn passive income and the options he is looking for are cryptocurrency and mining. Most mining hardware usually becomes too quickly obsolete even without a reasonable return on investment (ROI) after all related expenditures such as purchased equipment, real estate, regular maintenance, electricity and related costs.
BitFence offers the opportunity to mine a ‘HNY’ token by running software applications or a cost-effective microcomputer (Raspberry Pi, BeagleBoard) connected to the Internet. The software designed by BitFence will create a virtual environment to attract Hackers as an invite. When a hacker tries to hack this specially designed mining system, he will leave it with footprints that will be communicated to a BitFence System called Honeynet or HoneyFarm for further analysis. The information / data collected is then processed by the Artificial Intelligence (AI) classification and then processed into actionable threat intelligence bait. Once this process is registered, special miners will be rewarded instantly with HNY Tokens redeemable to BitCoin (BTC), Ethereum (ETH / ETC), other Crypto exchange or even using HNY Token to subscribe to BitFence security services.
PLATFORM ARCHITECTURE
BitFence Cyber Security Threat and Intelligence comes in two different artifacts – Mining / Threat Identification / detection and Risk Threat assessment, signature deployment and mitigation. Mining will be done by globally dispersed individuals using BitFence devices and software. The mining platform is integrated with a BitFence centralized server where risk assessment of threat signatures is evaluated. Once the threats are evaluated, signatures are deployed for individual subscription and business subscription systems to reduce them from zero-day malware and other cyber security threats.
The following organizations and / or individuals are affected by the implementation of the BitFence Threats Intelligence solution and are therefore identified as BitFence stakeholders:
From a product development perspective, BitFence stakeholders are: Inventors & Developers, System Engineers, Maya Security Engineers, Software Engineers, Product Maintenance Personnel, Test Engineers, Sales & Marketing, etc.
From the user’s point of view, BitFence stakeholders are: small, medium and large enterprises, corporations and companies, Finance & Health industries, Banking sector, Defense & Aerospace companies, Academic Institutions such as Universities and Colleges, Oil & Gas Industry, internet Individual users , NERC CIP Fulfillment of power utility rules, Miners etc.
The cornerstone of this system is a distributed honeypot network with a sensor located globally – miners. Miners will work by misleading hackers into thinking they are accessing legitimate and valuable systems. However, BitFence StingMiner software platform will record hacker actions, IP addresses, and all pertinent related information to be used to hijack the hackers. Information from these miners will be analyzed on centralized BitFence servers and also share them with BitFence customers.
Two or more honeypots on the network consist of HoneyNet. Typically, HoneyNet is used to monitor larger and / or more diverse networks where a single honeypot may not be sufficient for the network traffic experienced. Honey and Honeypots usually
implemented as part of a larger network intrusion detection system. BitFence “HoneyFarm” is a collection of honeypots analysis tools and centralized threats.
Some examples that show hacker malicious activity that HoneyNet can detect are:
– SQL Injection Attacks
– Brute Force Attacks
– Injection OS Command
– Web Refuge Effort
OVERALL VISION
BitFence’s overall vision is to provide a zero-day threat intelligence solution to protect people from hackers. BitFence will help companies and individual users to choose the appropriate security solutions to meet their needs. BitFence will help implement and integrate the solution with existing network hardware and software with minimal modifications or configuration changes. Once installed, the BitFence system will create a landscape threat report to meet compliance / regulatory requirements.
On the other hand, BitFence miners around the world will contribute as Eyes & Ears to the BitFence Threat Intelligence Network. Miners will use BitFence designed software called ‘StingMiner’ to attract hackers and pass on threat information to BitFence. Once the risk assessment and evaluation is successful, the miners will be rewarded.
The capabilities of BitFence’s zero-day cyber threat solution are as follows:
– Detect, Prevent, and Respond Cyber security threats – Receive threat information from miners and assess threats – Deploy and update threat information to subscription system to reduce system with similar threats – therefore protect the system from zero-day attacks – Offer mining to cyber defense forces – BitFence miners with proprietary software – Integrated gift solutions for BitFence miners after threats assessed based on risk evaluation – Integrate with existing network architecture with minimal configuration changes – Create customizable reports
Risk analysis and risk assessment should be done by utilizing BitFence Threat Intelligence Engine which uses several patent pending methods including AI:
– Fuzzy matching of threat footprints using a weighted probabilistic matching method – Support Vector Machines (SVM), Bayesian techniques and decision tree classifiers – Neural Networks, which continues to be trained with peer-reviewed and peer-reviewed data
BITFENCE TOKEN (HNY)
BitFence HNY Tokens is designed to provide a comprehensive economic model to enable the functionality of the cyber threat prevention system. Payments for subscription services will only be made by utilizing HNY Tokens. In addition, all prizes for BitFence Miners will also be distributed with HNY Tokens.
The HNY Token is a standard contract based token of Ethereum ERC20 which is also applied in BitFence Business Logic.
HNY Token brings together the Threat Protection and Detection Service into a single ecosystem with the complete life cycle
EVENING OF TOKEN GENERATION (TGE)
BitFence HNY is a utility token that is only a currency that will be used to purchase products and services in the BitFence Cyber Store.
NOTE: BITFENCE HNY IS NOT SECURITY. SUMMARY OF THE GENERATION OF THIS TOKEN GENERATION DOES NOT CONSTITUTE SUPPLY TO SELL OR MAINTENANCE OFFER TO BUY THE ‘HNY’ TOKEN BITFENSE AND PROVIDED ONLY FOR INFORMATION OBJECTIVES.
NOTE: SUMMARY SUMMARY REFLECTING STANDARDS AND EXPECTING BITFENSE W.R.T. TOKEN MECHANICS AND SALES OF HNY AND SUBJECT TO CHANGE ON ANYTHING.
NOTE: HNY TOKENS SHOULD BE CONSIDERED AS A DOLLARIS CURRENCY.
HNY is an ERC20 Token printed on request during TGE.
BitFence HNY Token is potential for sale. As part of this token sale, a fixed collection of HNY Tokens can potentially be generated. No more HNY Tokens that can be created in the future. After the token sale event is concluded, a portion of the HNY Token will be allocated and awarded to BitFence Core Team Members as an incentive for the success of the BitFence platform, future operational needs, and reserve funds and backup spending.
HNY Utility Token Sale (TGE)
Token Minting Model
No pre-mint, minted on purchase, immediate delivery
TGE Structure
30 days pre-sale + 60 days sale
Accepted payment methods
ETH, BTC, LTC, DASH
Absolute Max number of HNY minted
1,000,000,000
Maximum HNY available during TGE
50% or 500,000,000
Soft Cap (in USD)
$1,000,000
Maximum Hard Cap (in USD)
$50,000,000
Base HNY Price
1 ETH = 6000 HNY
Volume Discounts
Starts from 10 ETH = 10%, 20 ETH = 20%, etc.
HNY TOKENS ALLOCATION
BitFence HNY Token is planned to be distributed as follows:
For more information click the link below :
Author : piqulhdt28
ETH : 0xCA749977B715007b02aF1b7Ea73571Ba8aB6a36D
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