Bitfence — The numbers, TGE and subscription details.

Now that you have an understanding of the Bitfence project, and what it entails (If you haven’t, checkout my article which goes over the project in detail, here! ) lets take a look into the tokenomics, as well as how you can purchase HNY tokens.

HNY Token is a utility token designed to be a proof-of-threat, a token that a person running our hacker-miner (StingMiner) will receive in exchange of hacker’s digital fingerprint. -The BitFence team

If you’d to checkout their website, view the whitepaper or take part in the ICO, you can find all the above plus more on their Website, found below.

(As it currently stands, there is only 14 hours left to claim a 20% bonus in the ICO, if you’d like to invest, follow the below link and click on the ‘Buy HNY tokens with bonus now’ button)

Why Purchase HNY — With news of huge cyber attacks becoming a almost weekly occurrence in the news and with hundreds more potentially unreported each day; (Source; Ponemon Report (Found here!) it takes an average of 256 days for a malicious attack to be identified) and 2018 being pegged to be the worth year in terms of cyber-attacks so far (Source; itproportal here!) more and more companies are starting to pay attention to their network security, this is where BitFence comes into the pictures. Providing a comprehensive database of hackers signatures and malicious actions built from the StingMiner, and supplemented by it’s hardware products and subscriptions, they’re aiming to be the killing blow to network breaches.

69% of organisations don’t believe their antivirus can stop the threats they’re seeing. ~ Ponemon Institute

The numbers — Bitfence will be holding their TGE (Token Generating Event) in two separate phases; the pre-sale and the main token sale, collectively these will be held over a total of 60 days. Because the tokens are created on the spot when they are sold by the contract, this means that once both phases of the token sale are over, the team is able to terminate this contract halting the further production of HNY tokens; as a result there is no need for a standard ‘token burn’ that the majority of ICO’s have. As it stands, Bitfence have raised a whopping 798.23 ETH, and have achieved their pre-sale goal.

The act of a ‘Token Burn’ is as simple as sending the left over coins/tokens to an address that nobody has access to, ie 0xc000000000000000000000000000000000000000 this means the coins are lost or ‘burnt’ forever.

Pricing — The standard rate that HNY tokens are going to be sold at is 1 ETH = 6,000 HNY tokens (excluding nay incentives and discounts, ie the pre-sale), they will be following an ascending bonus structure, that starts at a whopping 40% bonus at day one of the pre-sale, eventually working it’s way down weekly to 0% on the last day of the ICO. On top of this, the team are offering a generous referral program for pre-existing investors, for every user they bring to the project who invest at least 0.05 ETH, they’ll receive a 10% bonus in HNY tokens.

(Currently there is 14 hours left to grab a 20% bonus in the ICO, if you’d to invest, checkout their website, here)

The following infographic by the team provides all of the most important information in an easy-to-read format.

Distribution — As Bitfence is built on the Ethereum platform and is an ERC-20 token, distribution of HNY tokens is automatically done through the smart contract when investing in the project, this means you need to ensure that you don’t invest directly from an exchange, and that your wallet you are sending the funds from supports ERC-20 tokens.

ERC20 is a technical standard used for smart contracts on the Ethereum blockchain for implementing tokens ; ERC stands for Ethereum Request for Comment, and 20 is the number that was assigned to this request.— Wikipedia

Because the tokens are distributed via the smart contract, this also gives the team the ability to restrict, or lock the transfer of tokens until the completion of the ICO, this ensure’s that the tokens will not hit any secondary markets during it’s ICO period.

Subscriptions — Now that we’ve covered the numbers involved with the project as well as the TGE (Token Generating Event), let’s take a look into the subscriptions that Bitfence will offer, and that you can purchase with your HNY tokens.

(The following subscription information is pulled directly from their Whitepaper which can be found here)

BitFence zero-day Threat Subscription Service

The following subscription services are planned for BitFence potential customers:

— Zero-day Threat Intelligence Feed subscription for Corporate Clients — Up to 2500 users (3-Month, 6 Months, 1 Year, 2 Year or 3 Year subscription options)

— Zero-day Threat Intelligence Feed subscription for Corporate Clients — From 2501 to 10,000 users (3-Month, 6 Months, 1 Year, 2 Year or 3 Year subscription options)

— Zero-day Threat Intelligence Feed subscription for Corporate Clients — More than 10,000 users (3-Month, 6 Months, 1 Year, 2 Year or 3 Year subscription options)

— “Lite” monthly subscription for Small Businesses (3-Month, 6 Months, 1 Year, 2 Year or 3 Year subscription options)

— “Ultra Light” monthly subscription for Home and Home Offices (3-Month, 6 Months, 1 Year subscription options)

BitFence Configured Hardware & Software Sale

Hardware/software solution that BitFence is planning to offer at its store are: — BitFence Routers — these pre-configured secured routers can be purchased with integrated BitFence 3-month to year subscriptions with very affordable options (own/lease to own/lease).

— Pre-installed Light Plug-n-Mine Raspberry Pi and BeagleBoard with StingMiner Software can be purchased with very affordable price options (own/lease to own/lease). These devices will be used by BitFence miners to mine HNY Tokens.

— SD Card images for Do-It-Yourself miners will also be available for users who already owned Raspberry Pi with cheaper prices

— BitFence software will be available to download as freeware. Software will be available in Windows/Mac/Linux platforms. (Note: For mobile users, software will also be available in Android and iOS in future)

As you can see from the above information in their whitepaper, BitFence are aiming to provide a solution for all sizes or business from the one man band, to the huge corporate multi-office solutions.

Summary — Bitfence aims to provide a comprehensive solution to cyber-attacks and malicious users on your network. Built from a global network of ‘StingMiners’ recording fingerprints and details of malicious actors in real time, it’s solutions will provide real-time protection to all endpoints on their network, as well as provide a upto date list of exploits that malicious actors are trying to use to large companies and providers.

Still not convinced? Here’s a sample of some of the largest cyber-attacks in the cryptoworld alone, the money alone from these attacks numbers well over $1 billion USD