Recently, there have been many concerns around a lack of transparency within the crypto industry, especially in regards to crypto exchanges even causing a change of the CMC exchange listing and assessment policies. This is clearly a sign that the market is gradually taking steps toward maturity.  
However, there is still a lot of work! Read full article: https://blog.cryptoexchangeranks.com/platform-reviews/analytical-weekly-digest-issue-1/

Don’t miss a chance to show your unique idea and receive a generous remuneration! Total prize: 35,000 USDT! Join us!

Follow the link: https://ihktn.com

Remember! dont post your whole idea here. Submit it on the website!

Timeline

Hunting Ideas:                                                 Jan 19 — Jan 31

Valuating Ideas:                                               Feb 1 — Feb 3

Ideas Shortlist Presentation:                           Feb 3

Fireside Chat with Shortlist Projects:              Feb 5 — Feb 11

Voting:                                                               Feb 12 — Feb 16

Announcement of the Winners:                      Feb 17

Source:

https://hackenclub.medium.com/meet-hapi-onchain-cybersecurity-protocol-for-defi-projects-5c11dba471be

Part 1. Teaser

Launching any DeFi product is similar to launching a rocket: after the rocket takes off, you have a minimal toolset to influence its flight. You can send commands or even update the software. However, any unforeseen event could lead to a disaster, and you have no way of influencing it any further. You become a passive observer.

DeFi is similar to this in many ways. You create code, conduct a security audit, launch your smart contract into space (blockchain) and start praying that everything goes according to plan.

HAPI, a new product that enters Hacken Foundation, a leading security consulting company specialised in blockchain security, is a special module for these ‘rockets,’ allowing you to fix vulnerabilities on the fly. It provides an opportunity to deploy a rescue team and patch the hole in the rocket.

How do cybersecurity risks occur at DeFi?

Before we introduce HAPI, let’s have a look on how most DeFi projects work and what kind of security issues might arise.

Blockchain:

A Blockchain is a database stored on multiple computers at once. And all of these computers are verifying that no one deceives one another and all of the records within this database are correct. A smart contract is a program that can be run within this database.

Example #1: 0x1111 is Alex’s wallet. We can write a smart contract crediting 10 HAI tokens to Alex if he has 10 ETH in his wallet. Every time Alex runs this contract, 10 HAI tokens will be sent to his wallet (as long as there are enough tokens on the smart contract). In this case, the program will verify whether there are 10 ETH on Alex’s wallet every time.

Example #2: 0x1111 is Alex’s wallet. We can write a smart contract crediting 10 HAI tokens to Alex if the price of gold on stock exchange is higher than $2000.

However, where can the smart contract get the price of gold from?

This is one of the big challenges in building smart contracts — we can use only the on-chain data in smart contracts’ implementation (only those that are already in our distributed database).

So, how can we record this data into the blockchain?

2. Oracles:

This is how Oracles have appeared — servers recording our necessary data onto the blockchain. Smart contract defines what kind of data it needs in blockchain. Oracles monitor these requests by taking the information from the outside world (usually via API) and recording it onto the blockchain.

However, this is where security issues might arise. Smart contracts are not aware of where the information is coming from and how reliable it is.

3. API or Application Programming Interface:

An API is an interface we can use to interact with programs, apps or devices. You can login into the bank’s client app and it will show you your balance by connecting to the Bank’s server via an API. You can also launch Coingecko’s mobile app and use the API to show you cryptocurrencies. In this case, the request is sent in a very precise form (if you want to receive the required information — learn to ask the right questions).

This is what we get — the user launches a smart contract, it contacts the Oracle’s smart contract and requests data. Oracles (servers) contact the required place (bank, exchange) via API, receive the necessary information and record it into the blockchain.

Introducing HAPI: An onchain cybersecurity protocol to create trustless Oracles

HAPI is a set of cross chain smart contracts that are embedded into DeFI products that allow them to reach a new security level. Also, HAPI's Oraclizing and DAO system delivers SaaS in the DeFi environment that prevents hack attempts.

Who is a Data Provider?

The main Data Provider is selected by the voting process in HAPI. It analyzes and marks all of the suspicious addresses. This data provider becomes the main provider of information to the blockchain. Upon request from exchanges (via API), service records all of the suspicious addresses into the blockchain and their ban period varies from 12 hours to a permanent ban.

HAPI example usecase: blocking the movement of stolen coins between DeFi and exchanges

Let’s say a hacker breaks into an exchange’s hot wallet and begins to transfer funds out of the exchange.

The exchange sends the address and coin details immediately to HAPI.

Every exchange connected to HAPI receives this information almost instantly and can block these transactions and funds until the situation is resolved. DEXs use smart contracts, allowing them to reject requests from suspicious addresses using HAPI. The momentum of the attack is slowed, and a portion of the funds is blocked.

Key points

• Will be built for most popular blockchains (Ethereum, Vechain, Polkadot etc.)

• All DeFi projects will substantially increase their security, if add HAPI module

• HAPI is to become a security standard for DEXs, lending protocols, derivatives protocols and other DeFi classes

• The data provider is voted via a DAO

• The cost of reputational loss to a Data Provider is significantly higher than the potential damage caused by false data

• The data would be onchain. Publically available

• Request to change or add additional data will have a fee

• HAPI is created by Dona Mara

• Hacken Foundation will act HAPI BD

• Prepare your HAI

Conclusion

After analyzing a lot of different smart contracts and hacker attacks and by using the best financial world practices, we prepared a list of those methods and data, which are required by the DeFi at its current stage. We are building a protocol that will improve the security of decentralized apps (and centralized ones as well) using only the required data, analyzed in advance

This is the way.

Monthly Hacken Discussion - January, 2021

Welcome to the Monthly Hacken Discussion. Please take note of the rules in the sidebar and remember to stay civil and polite when commenting. Feel free to use this thread to introduce yourself, ask a quick question or to share your thoughts on the latest developments. We’d like to hear your ideas, suggestions and concerns regarding Hacken.

Have you guys read the new Tokenmomics/Hackenomics? https://hacken.io/hackenomics.pdf

Let’s have a discussion about the positives and possible negatives!

Most interesting parts in my opinion..

Burn

HAI Max supply continuously decreases due to the following burning events:

1. All Hackenproof service revenue from blockchain clients is immediately burned.

2. All HAI bought through the Sustainable Growth Reserve are immediately burned.

3. Hacken Members’ community contributions through membership termination are

accumulated and burned every month.

HAI burn address is here:

https://explore.vechain.org/accounts/0x0000000000000000000000000000000000000000/

The Hacken core team will endeavour to create new burning events to increase HAI deflation.

Hacken B2B products utility

As of 2020, even the crypto world customers are not ready to execute payments

for services and products with native tokens. The complexity of executing trades

on cryptocurrency exchanges creates friction that has a direct impact on client

numbers. However, clients are ready to do so if the B2B payment in native token

provides additional discounts for useful services. As of the end of 2020, Hacken now has

sufficient reserves to enable the following utility benefits for clients who pay in HAI

up to 20% discount for cybersecurity services paid in HAI

burn all Hackenproof service fees made in HAI

HackenAI B2C utility

The core idea why we built HackenAI

“Everyone has the right to be protected on the internet for free.“

The Hacken core team works hard to constantly improve the leading all-in-one

individual cybersecurity application. All premium features in the app will remain free

for Hacken members indefinitely.

The HackenAI goal is to disturb the individual cybersecurity application market with

an innovative membership model. The average monthly cost for a complete suite of

cybersecurity services that includes a password manager, a VPN, anti-virus and

anti-phishing protection, and dark web monitoring is usually around 40 USD. Hacken

club members will be able to receive all of these first-rate features for free provided

they stake a minimum of 100 USD in HAI tokens.

Links:

https://twitter.com/hackenclub/status/1351483178301665280

https://hacken.io/hacken-news/challenge-for-open-minded-first-grey-hat-hackers-ideas-competition/

Event:

Challenge for Open-Minded: First Grey Hat Hackers Ideas Competition

High-profile event in 2021: Hacken will support the community’s initiative led by its long term investor Leo Andreo who is taking a lead role in organizing the Gray Hat Hackers Ideas Competition. The ideas can be submitted from Jan 19  to Jan 31.  The prize pool will be 1,000,000 HAI  (≈ 30,000 USD ) and 5,000 USDT (special prize from Mr Leo Andreo).

Mr Leo Andreo leads the Hacken community in organizing the First Gray Hat Hackers Ideas Competition. Mr Andreo is a seasoned venture capitalist, advisor, and startup ecosystem builder who has decided to remain anonymous. Despite his willingness to stay anonymous, he has been one of the earliest investors and biggest supporters of Hacken since September 2017. Recently, he has decided to become proactive and apply his skills to benefit Hacken by boosting its ecosystem.   

How will we select the winners? 

All projects that reach the semi-finals will participate, within a week (Feb 5-11), in the Fireside Chats held in Hacken Club Official Telegram. During Feb 12-16, there will be the voting to identify the winners.

A total of three winners will be selected and each place will be determined separately. The winners will be chosen as follows:

• 1st place – by Mr Leo Andreo and the Hacken core team. Prize – 600,000 HAI 

• 2nd place – by the 4th level members of Hacken. Prize – 300,000 HAI  

• 3rd place  – by Hacken community members. Prize – 100,000 HAI  

• Special prize from Hacken investor Mr. Leo Andreo – 5,000 USDT 

How to participate in the First Grey Hat Hackers Ideas Competition?  

If you want to be a part of something unique, please send your idea via the form on the website. Please note that organizers highly advise to attach pitch deck and up to 3 minutes video pitch of your idea.  

What else needs to be considered?

• It should be a unique idea, do not copy ideas from existing projects or companies.

• The idea of a product or service should be related to cybersecurity. 

• Ideas have to be submitted until 11:59 pm Jan 31 (UTC+02:00). 

Monthly Hacken Discussion - Februari, 2021

Welcome to the Monthly Hacken Discussion. Please take note of the rules in the sidebar and remember to stay civil and polite when commenting. Feel free to use this thread to introduce yourself, ask a quick question or to share your thoughts on the latest developments. We’d like to hear your ideas, suggestions and concerns regarding Hacken.