HAPI Protocol (HAPI)
HAPI
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What is HAPI Protocol (HAPI)?
Hapi Protocol is a decentralized cybersecurity protocol.
Here’s how HAPI describe themselves:
The protocol can help protect blockchain projects from malicious activity such as money laundering and hacking by alerting them to potential security threats instantly through embedded smart contracts.
Hapi Protocol’s cybersecurity technology is compatible with any blockchain (it’s blockchain ‘agnostic’). It’s also the only cybersecurity protocol that can be integrated into decentralized exchanges (DEXs) and DeFi protocols. Partnerships include Chainalysis and Hacken, both leaders in the blockchain cybersecurity space.
How does it work?
Hapi Protocol gathers intelligence on blockchain security breaches and threats (such as compromised wallets) from multiple sources (external, off-chain, as well as on-chain data). This data pool is supplemented by the work of Hapi’s own cybersecurity department, ‘Hapi Labs’, which consists of 10 cybersecurity specialists.
Hapi Protocol is able to communicate this information with projects instantly through the use of smart contracts. These are embedded onto the project’s blockchain, and create a lightning-quick notification and alert system.
The protocol has three major use-cases:
- Reporting & Alert System: Users who stake HAPI can contribute to Hapi’s security data bank and report unlawful players by submitting information to Hapi’s live updating RCI (Report & Check Interface). This will be shared with, and of benefit to all members of Hapi Protocol, giving users a chance to contribute to the crypto ecosystem’s safety.
- Check address: a vetting system for wallet addresses. Users can quickly check whether the wallet addresses they’re interacting with have been involved in, or affected by, any malicious activity.
- Smart contracts for DEX and DeFi protocols: Hapi claims to be the only protocol that embeds directly into DeFi.
HAPI token utility?
- Governance: users who stake HAPI can elect data providers.
- Data submission fees
- Oracle rewards
- DeFi project audit status submission
Check out their whitepaper for further details.
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