BitFence; The Creation of an Advanced CyberSecurity Solution

hamzeto (55)in #bitfence • 7 years ago (edited)

The menace of hackers and cyber-attacks is increasing daily and they target anyone ranging from small enterprises to very large corporations. These hackers are trying so desperately to get their hands on confidential information which can either be held ransom for a fee or be used to exploit and steal information for sale or thefts of funds. Most very large corporate companies have the necessary technology to avoid such attacks but the small and medium business are the ones at the most risk. Due to the disastrous effects of these hackers, companies lose customers and money and suffers great losses over time if the security loophole isn't discovered and taken care of on time.
I remember in 2014 where a group of Russian hackers broke into the JP Morgan Chase and tampered with information on numerous business accounts and personal accounts. Money was not stolen at all but personal information like names, date of birth, address, emails, and phone numbers were taken. This is where Bitfence Project comes into play and it composes of highly skilled programmers in the field of cyber security who came together and made this platform a reality.

Bitfence Introduced

This project was formed with the sole aim of protecting people from the activities of hackers. This will help companies and corporations with tools necessary to detect and eliminate the cyber security threats before it even happens. This project operates under a smart contract with the blockchain technology and it works by the usage of an Artificial Intelligence software to capture and analyse numerous hackers profiles and then deliver protection against these hackers from all its subscribers.

The Artificial Intelligence software was designed to attract hackers and the Bitfence miners work hand in hand with this software and they then pass on the threat information to the Bitfence. As this threat is then evaluated and validated by bitfence, the miners get rewarded.

The BitFence Sting miner used to attract hackers and record their signature

Advantages of Bitfence

It uses A.I to prevent and take care of cyber security threats
It responds to cyber security threats faster due to threat information and threat assessment profiles from the miners
An avoided cyber-attack on a single subscriber terminal will deploy protection against such same attack on all of its subscribers.
The miners who detect these threats are rewarded upon assessment of the threats reported.
It doesn't cause noticeable changes when integrated with an existing network architecture.

Bitfence Tokens

Bitfence tokens HNY is the currency of the platform and its in the form of an ERC20 token based on the ethereum blockchain. This tokens are used for the payment of services in the platform and to reward the miners for their efforts.
Bitfence has an ICO that is taking place at the moment for investors willing to be a part of this and about 500 million HNY is available for sale to investors. To purchase the HNY tokens, you can either use BTC, ETH, DASH or LTC and right now there is a 10% bonus on the amount of HNY purchased.

In Conclusion, Bitfence is very important for the detection and threat assessment and proactively defends users from being target of cyber attacks. This was made possible with the use of Blockchain Technology, miners and the activities of an Artificial intelligence giving users the absolute security and protection.

Short Video About BitFence
VIDEO CREDIT- BitFence YouTube Channel