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Hacken

Hacken creates an ecosystem based on Ethereum. The ecosystem will include an exploit exchange, a startup incubator in Cybersecurity and a marketplace for cybersecurity services, as well as a HackIT conference. The ecosystem built by the project will allow customers to purchase high-quality services for testing security and vulnerability assessment for their products. The goal of the project is to bring hackers to the white market and give them the opportunity to "legally" earn money.

Rating: 3.2

Official contacts
Location: N/A
Web-resources:   Whitepaper Website
Social networks: N/A
Product source tracking: N/A
Details Description Risks Full analysis Team

Detailed review

Stage of product development
Alpha version of tcybersecurity marketplace.


Token description
ICO date
31.10.2017 - 30.11.2017
Token price
Bonus Program for the main token sale: 1-4 hours discount 25%
1-2 days: 20%
3-7 days: 15%
7-14 days: 10%
Platform
Ethereum
Blockchain
Ethereum
Token distribution date
30.11.2017
Consensus method
N/A
Escrow
average 80% of the funds raised are kept at escrow account
ICO currencies
ETH , BTC
Bounty camping
Hacken reserves 2% of the total ICO pool for Bounty. For more information, see https://medium.com/@hacken/hacken-bounty-campaign-6eaf46f956db
Markets
N/A
Token functions
All transactions through HackenProof and Hacken Accelerator services are performed only in HKN tokens. All profits from Hacken Ecosystem operations are divided in half. Half of these HKN tokens are then "burned" and removed from the system, and the other half is sent back for sale on the open market.
Tokens distribution
Token sale (80.0%)
Team (10.0%)
Advisors (7.0%)
Bounty (3.0%)
Risks
MARKET

According to Gartner, the VA market (vulnerability assessment) has a low growth rate of 7-8%. In each of the target segments of Hacken there is a number of strong players-leaders, incl. secur1ty.com and netspi.com in the segment of cyber security services and Zerodium, Zeronomicon, Zero Day Initiative in the segment of vulnerability exchanges.

PRODUCT

Product is not ready-to-use There is no ability to track the development status (for example, the presence of Github)

BUSINESS MODEL

Risks and uncertainties are not identified.

FINANCES

The volume of raised capital exceeds the precedent transaction by 2 times (average size of Round A in the category according to Pitchbook data)

TEAM

Risks and uncertainties are not identified.

Full analysis
Market

The VA market (vulnerability assessment) according to Gartner is mature and growing at a CAGR of 7-8%. The market size is at least $ 615 million. The growth of the market as a whole is stable, but has declined since the previous years, which indicates that vulnerability assessment has become a standard component of most risk management systems. Considering competitors in the cybersecurity marketplace segment should be mentioned https://secur1ty.com/, https://www.netspi.com/. As for the segment of vulnerabilities (exploit, zero day vulnerability) in the world, there are more than 20 sites for the purchase of exploits, the most famous are Zerodium, Zeronomicon, Zero Day Initiative. 2-3 years ago, there was a large number of exploits and a small level of demand on the market, today - a high level of demand and unsatisfactory supply volume.

Product

The company's products are services related to the search and removal of vulnerabilities in the software. In addition to the resale of exploits created by third-party hackers, community members themselves are engaged in the search for vulnerabilities and the development of exploits, as well as developing a marketplace for the provision of services in the field of cybersecurity. Unlike the Zerodium platform (the largest in the world), the vulnerability exchange within Hacken uses blockchain, which allows to maximally secure the buyer from the fact of disclosure of any information about him (including the project itself can not track the buyer company). The launch of the marketplace is planned in Q4 2017.

Business model

Hacken - a token based on Ethereum, which solves the problems of interaction of professionals in the field of cybersecurity. All transactions will occur through a platform (buying exploits from hackers or paying for purchased services related to cybersecurity) is completely anonymous, third-party protection is also made through the use of a token.

Finances

The hard cap for the ICO has been set at €20 Million. More than 80% of receive funds will be hold on an escrow account under the control of Juscutum. the audit assignment should be carried out by an experienced staff, with the involvement of one of the Big 4 audit companies. The principle of burning tokens used by the project will allow ICO participants to count on further receiving services at an attractive price and additional yield on the invested funds.

Team

Team of project is fully equiped - both by specialists with business background and with ceratin industry experts. From the point of view of marketing and positioning in the market, Hacken also has several significant advantages, including the presence of the founder of the HackIT conference as part of the team and the availability of expertise in the promotion strategy among its target audience.

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