Aleph Zero and Interlock: Using Blockchain For a Safer Internet
Interlock is building a decentralized security platform on Aleph Zero that will empower users with free, enterprise-grade security and reward them for making the internet safer. The first part of the project–ThreatSlayer, a browser security extension– has already been launched in Beta version and answers the pressing need for increased security in decentralized finance (DeFi).
Before diving deep into Interlock’s unique product, let’s quickly frame the scene so that we can fully understand the breadth of challenges facing the DeFi realm. Cryptocurrency use has been steadily growing, turning into an outright boom during the bull run of 2021. According to a report by Chainalysis, total transaction volume across all tracked cryptocurrencies amounted to $15.8 trillion, an impressive 567% increase over the previous year. Unsurprisingly, cybercriminals have followed in the wake of this increase in adoption.
As a result of this criminal activity, over 14 billion dollars were lost due to various scams. These losses victimize and threaten the livelihoods of countless people around the globe. So how can Interlock help users and enterprises to navigate the DeFi space safely?
How Interlock is Using Blockchain to Enable a Safer Internet
At its core, Interlock represents a new trend in online applications dubbed decentralized security (shortened to DeSec for practical purposes). DeSec is the response of the Web3 community against the threats that have made themselves known in the DeFi and decentralized app (dAPP) space while also combatting the online threats that have been around since the early days of the Internet.
Despite the billions of dollars spent on consumer and enterprise security (139.77 billion dollars in 2021), Web2 security solutions have not significantly reduced online threats such as phishing and social engineering attacks over the 20+ years of Web2’s existence. What’s more, these attacks have made their way to the Web3 space, plaguing DeFi users as well.
The reason why our current security systems do not work is due to their siloed and fragmented nature that don’t consider the Internet’s community-driven nature. If appropriately harnessed, Web3 solutions can use the online community’s power to crowdsource threat intelligence. By using blockchain, we can do this in an anonymous, secure manner that will help build a safer internet for everyone.
Let’s now move on to Interlock’s unique proposition—through employing blockchain technology; Interlock aims to create a safer online experience for everyone by equipping users with enterprise-grade security and incentivizing them to share security data back to the Interlock Network. Interlock generates revenue by selling this anonymized data as threat intelligence—a $10.1 billion per year market. The roadmap for the project is as follows.
Interlock’s Development Plans
Currently, Interlock predicts three phases of its development, with the project currently being in Phase 1. The roadmap for Interlock looks as follows:
Phase 1: Develop and Distribute Consumer Security Products
At this stage of the project’s development, the focus is on protecting the average DeFi consumer through the introduction of the ThreatSlayer-Browser Security extension that protects users from online threats such as phishing, scams, and bad downloads. This browser extension goes in tandem with Interlock’s native utility token, dubbed $ILOCK, that fuels the ecosystem. These two concepts lay the groundwork for the project, and the DeSec platform Interlock intends to build.
ThreatSlayer and $ILOCK work together by incentivizing users to share anonymized security data with the Interlock Network. Think browse-to-earn, but with the added benefits of free enterprise-grade security to keep you safe online. For doing so, users will be rewarded with $ILOCK tokens. By passively sharing security data, ThreatSlayer users make the network and product safer.
To experience the protection and benefits of Interlock’s ThreatSlayer-Browser Security, click the following link to the Chrome Webstore:
ThreatSlayer-Browser Security Download Link
Interlock has also introduced a Discord bot called Bouncer that uses AI to remove malicious links posted on Discord. Bouncer is currently in the market and protects over 45,000 discord members.
The last element of Phase 1 involves empowering an elite group of users, dubbed bounty hunters, to search the web for threats.
Phase 2: Generate Revenue Through Enterprise Adoption
The next step on Interlock’s journey involves launching a browser security platform aimed squarely at protecting enterprises that will consist of two core products:
- Threat Intelligence Platform- Anonymized security data provided by ThreatSlayer users that enterprises use to improve their cybersecurity posture, a $10 billion per year market.
- Browser Defense Platform-The enterprise version of ThreatSlayer that protects enterprises’ main threat vector, their employees’ browsers. $14 billion per year market.
The enterprise revenue will be used for token buybacks. Just as consumer users share data with the Interlock network, enterprises will share data, too, creating a collaborative environment and safer products for everyone.
The Interlock team, which features Y-Combinator grads, and tech marketing experts, have deep B2B marketing and sales experience and have sold similar technologies to large exchanges, gaming, and software companies.
The third stage of Interlock’s growth is aimed at attracting future DeSec projects and Web2 security companies to Interlock’s decentralized security ecosystem.
Why Interlock Chose Aleph Zero as Its Layer 1
“Interlock has decided to cooperate with Aleph Zero due to its blockchain solution’s reliable and highly efficient nature and the potential for cross-chain bridging. This feature would allow the team behind Interlock to decentralize the Interlock logic without revealing how the heuristics work or what they are computing (which is advantageous against scammers).”
Nick Zivković, principal engineer at Interlock
Additionally, Interlock has voiced interest in Aleph Zero’s privacy-enhancing framework Liminal, which uses zero-knowledge proofs and secure multi-party computation to ensure users remain in control of their information.
“Building on Aleph Zero will allow us to create the strongest possible security products and network to protect DeFi.Their ultra-talented team knows how to engineer distributed systems—and they’re doing it right. We wanted to work with a team that prioritized correctness and rigor over flashy marketing headlines. And their technology is top-notch. Plus, the Aleph Zero community is strong and dedicated!"
Andrew Ciaccia, Interlock Marketing Leader
We are confident that this collaboration will be highly beneficial for the broader blockchain space by protecting average users from scammers who have decided to abuse the liberating potential of DeFi. New security solutions are needed to protect both users and their data from malicious actors. Interlock’s approach towards DeSec and Aleph Zero’s privacy framework Liminal will prove to be complementary in creating a safer DeFi space for all.