Bitfence — An overview of the decentralized threat management platform.

darkoth89 (25)in #crypto • 7 years ago

Before we get started, all information received and used so far in this article (unless otherwise stated) has been from the Telegram group or the website/whitepaper. In my opinion Telegram is the best way to get quick updates and answers to any questions on the project, how to invest, or simply chat with the team and CORE admin team 24x7 365. Join the group via the invite link here. Want to invest in the project? Checkout their TokenSale website: https://bitfence.io/

BitFence Cyber Security Threat and Intelligence comes in two different artifacts — Mining/Threat identifications or detection and Threat Risk assessment, signature deployment and mitigation.

The Problem — In the current day and age, everything from your toaster, to your kettle, to the phone you carry with you has access to the internet, and with it, the risks with being on the network itbrings. In a single day there are hundreds of thousands of malicious attacks worldwide, you can visually see some of these in realtime on the Norse website: http://map.norsecorp.com/

Zero Days — A Zero Day is an unknown exploit in software or hardware which can provide backdoor access to systems with no opportunity for detection. Perhaps the most famous case of Zero Days attacks, is the Stuxnet worm designed to bring the Iranian nuclear program to it’s knees, first discovered in 2010, some 5 years after it had been created it’s sole purpose was to target the machines spinning centrifuges, causing them to rip themselves apart.

According to the 2015 Ponemon Report (Found here)it takes an average of 256 days for a malicious attack to be identified, and 158 days for breaches caused by human errors to be identified. This huge average delay means that by the time the company has realized there’s been a breach, the damage has long since been done.

(A handy tool to see if any of your data has been leaked in a breach is the following website: https://haveibeenpwned.com/, entering your email, it searches a huge database of leaked credentials that is constantly updated as new breaches are found)

The solution — Step in BitFence. Simply put, BitFence is a cyber-threat prevention system built around smart contracts. Utilizing it’s unique mining and intensives to reward those who deploy a StingMiner in their network it acts a HoneyPot on the internal network, this in turn attracts hackers, who’s unique fingerprints are recorded and identified using the custom designed artifical intelligence present in each and every StingMiner, this information is then rolled out to the rest of the BitFence network in real-time, strengthening it with each and every detection. For example, if you had an office in America and one in Europe, if one of the offices was to be targeted by a malicious actor, the other office was would receive the fingerprint and definitions update, and be protected from this

The ones who are crazy enough to think that they can change the world are the ones who do ~ John McAfee

The Bitfence ecosystem is composed of three main parts, that together form the backbone and tools used to combat the growing cyber-security threats.

1 — Product installation, deploying the StingMiner in your network rewards users with intensives in the form of ‘HNY’ tokens for each fingerprint that is recorded.

2 — Data recorded by ‘Miners’ is automatically analyzed, processed and ranked in order of the risk that they pose to the network by the internal custom built AI algorithm.

3 — Once information is processed on the malicious actors, the information is instantaneously rolled out to all BitFence subscribers on the network in real time, reducing the vector of attacks.

if you’d prefer to see an overview of the project in video form, checkout the below video by the team which goes over the basics: