press release
ZUG, Switzerland, June 27, 2024 (GLOBE NEWSWIRE) — interlock The company today announced Web3, an incentivized, crowdsourced internet security community dedicated to making the internet safer for everyone, from individuals to global enterprises. The company also today announced the global general availability of its flagship product. Threat SlayerA Web3 security browser extension that is revolutionizing internet security by harnessing the power of blockchain, AI and a global user community.
Today’s launch of ThreatSlayer follows a year of beta testing with over 29,000 weekly active users, 80% of whom are outside the U.S. The community already includes active members on X, Telegram and Discord.
Adding to the conversation in the Web3 community was the CEO of Interlock, who recently appeared in Entrepreneur’s “Elevator pitch“, a broadcast watched by 600,000 people, during which he attracted interest from Netflix co-founder and former CEO Marc Randolph in a potential $100,000 investment.
Compatible with most major browsers ThreatSlayer is free to download Installs instantly and starts protecting Internet users from dangerous website URLs and scams no matter where the malicious link comes from – phishing, fake ads, searching, browsing, etc. By running as part of your browser, ThreatSlayer can block malicious sites before they can do any damage. While helping everyone deal with the traditional issues of today’s risk-filled Web2 Internet, it’s especially suited to early Web3 adopters and cryptocurrency enthusiasts.
Combining cloud power and AI to revolutionize internet security
Born out of the need for more effective internet security despite billions of dollars being spent on existing Web2 solutions, Interlock was conceived to combat relentless phishing and social engineering attacks using Web3 technology and incentivized community threat intelligence, delivering internet cybersecurity designed for a digital and crypto-focused world.
To power ThreatSlayer protection with the best threat intelligence, Interlock rewards users who share anonymized security data. While no security solution is perfect, more people is more secure, and building the world’s largest community for crowdsourcing threat intelligence is the foundation that makes this revolutionary.
Equally revolutionary is the company’s platform’s groundbreaking use of blockchain and AI technologies.
In the coming weeks, Interlock will introduce its own utility coin, $ILOCK, which will be used to pay incentives and allow community members to use the cryptocurrency coin to fuel rewards and security staking. Users can earn additional tokens by correcting Interlock’s threat detection when it gets it wrong. Think of it as a mix between PayPal’s fraud detection and a Twitter community notes style review system. The $ILOCK coin will be arbitrationis the leading Layer 2 (L2) network for Ethereum with a massive user base of 11.6 million people. Aleph Zeroa privacy-focused public blockchain platform. By making $ILOCK Coin available on these platforms, Interlock gives users choice and grows its network while increasing security for all participants.
Interlock Roadmap
Interlock’s near-term product roadmap includes Mainent’s ThreatSlayer, a token generation event (TGE), and security staking.
The company plans to go to market later this year by monetizing the shared security data it collects in the $11 billion annual B2B threat intelligence market and building the first crowdsourced threat intelligence platform. The company also plans to launch an enterprise version of its product within the next 12 months.
In line with best practices from Web3 community leaders, Interlock is very transparent and provides a wealth of additional information on their website and in their GitHub resource center.
“Interlock’s mission is to leverage the power of Web3 to solve traditional Web2 security problems. Our unique approach does this by encouraging users to share their security data and use our security tools,” said Rick Deacon, co-founder and CEO of Interlock. “With ThreatSlayer leading the way, we’re establishing a new era of effective and comprehensive cybersecurity. As we embark on this journey, we’re grateful for the support of our investors, who share our vision of a safer online world.”
The company raised $4.1 million through two oversubscribed private sales of $ILOCK led by Outlier Ventures.
“We are extremely confident in our investment that supports Interlock’s mission to revolutionize Web3 security,” said Jamie Burke, founder of Outlier Ventures. “The security implications of Web3’s self-sovereignty are a burden most users cannot afford. ThreatSlayer is a simple browser extension that protects individuals and enables them to join an army of 29,000 users to crowdsource threat intelligence and earn money.”
How Interlock’s innovative ecosystem works
The Interlock ecosystem consists of ThreatSlayer, a user-facing internet security browser extension, Galactus, a data nexus and open-source reward system, and Octahedron, a proprietary AI-driven threat detection tool.
In the Interlock ecosystem, ThreatSlayer users can select incentives to continuously aggregate web activity and send anonymous threat intelligence data to Galactus.
Octahedron, the core of Interlock’s technology, leverages that data to identify, categorize and even predict malicious web entities.
Octahedron, an advanced AI threat detection tool, is designed to navigate the complexities of cyberspace and continually updates ThreatSlayer to better protect users. SciKit Learning The library excels at classifying objects, identifying relationships, and predicting trends based on historical data. It uses Interlock’s proprietary Decision Tree algorithm to evaluate websites, identify potential threats, and prevent users from entering dangerous cyber territories.
Octahedron is trained with a wide variety of data, including known crypto scams, phishing links, dangerous URLs, malware, and more, to give it a keen sense of trouble. New data is constantly provided by the community, making Octahedron an ever-more effective cybersecurity tool.
Adding dimensions such as the presence of specific keywords like “cryptocurrency” or “free money”, scrutinizing suspicious JavaScript functions, detecting malicious code, and evaluating a website’s domain reputation and traffic patterns improves the accuracy of identifying malicious websites. As Octahedron’s dimensions increase, so does its effectiveness in protecting against online threats.
As this robust internet security data ecosystem develops, the backbone of its operations – Interlock’s blockchain infrastructure – ensures user trust and system-wide security. Together, these components create a seamlessly integrated system where data collection, threat analysis and token rewards blend in sync.
Interlock’s highly acclaimed team
Rick Deacon, CEO and co-founder of Interlock, has extensive experience in cybersecurity, from hacking MySpace to building the next generation of decentralized security. Rick was the former CEO of a Y Combinator-funded browser defense platform startup whose software technology was sold to Coinbase, Gemini and Uber.
The company also benefits from the expertise of two senior advisors, Ethan Johnson and Ajeet Khurana. With over 10 years of experience in cyber security, Ethan brings expertise in cryptographic architecture and control design to define Interlock’s enterprise product strategy. His security roles at Citadel Security, Galaxy Digital and Bank of New York Mellon highlight his expertise in securing the emerging digital asset sector.
“Unlike many AI companies that have sprung up overnight, the Interlock team has been building and fine-tuning AI-based web browsing protection for years,” said Ethan Johnson, an advisor to Interlock. “We’re excited about their potential to make risky web browsing safer.”
Reflexical’s founder, Ajeet, comes with a strong background to support Interlock’s mission of bridging the security gap in Web3, with previous roles including CEO of India’s largest CEX and Head of the Blockchain and Cryptocurrency Committee giving him the unique perspective and expertise necessary to make Interlock successful.
“Interlock’s groundbreaking approach to incentivizing security combines the power of artificial intelligence with the collective power of the crowd,” said Ajeet Khurana, advisor at Interlock. “In the self-sovereign realm of Web3, security concerns can be a major issue for most users. But ThreatSlayer offers a unique solution: by seamlessly integrating AI and community, users can identify threats and easily earn rewards.”
Join the Interlock Community
If you’re ready to get better internet protection and get rewarded for your browsing, download ThreatSlayer today and become part of the fast-growing Interlock community. To learn more about ThreatSlayer, the Interlock ecosystem, Web3, blockchain, tokenomics, and more, visit our extensive resource library and check out the community. Twitter, LinkedIn, Telegram, DiscordPlease feel free to stop by, say hello, or ask any questions.
Interlock
interlock Interlock is pioneering the security transformation within Web3 with its AI-powered browser extension, Threatslayer. It protects users from risky websites, money-draining sites, and scams while cultivating a unique crowdsourced threat intelligence platform by rewarding and encouraging users to share their data. Interlock boasts 30,000+ weekly users and a 79,000-strong community, and has raised $4.1M in funding in an oversubscribed private sale led by Outlier Ventures.