【Press Release – Fairfield, Connecticut, USA, June 27, 2024】
Using Blockchain and Web3 to Incentivize Users to Participate and Share Critical Threat Data
Interlock today announced a Web3, incentivizing crowdsourced internet security community, aiming to make the internet safer for everyone from individuals to global enterprises. Today, the company also announced the global launch of its flagship product, ThreadLayer, a Web3 security browser extension that leverages the power of blockchain, artificial intelligence, and a global user community to revolutionize internet security.
Before today’s announcement of the production version of ThreadLayer, over 29,000 weekly active users tested it for a year, with 80% of them located outside the United States. The community already includes active members on X, Telegram, and Discord.
Interlock’s CEO recently appeared on the “Elevator Pitch” of Entrepreneur, sparking interest in a potential $100,000 investment from Netflix co-founder and former CEO Marc Randolph, with 600,000 people tuning in to the broadcast.
Compatible with most mainstream browsers, ThreadLayer can be downloaded and installed for free. It immediately starts protecting internet users from dangerous website URLs and scams, whether the malicious links come from phishing, fake ads, search, or browsing. By working as part of the browser, ThreadLayer can stop malicious websites before they cause harm. While helping everyone address legacy issues in today’s high-risk Web2 internet, it is particularly suited for Web3 early adopters and cryptocurrency enthusiasts.
Combining crowdsourcing with artificial intelligence, revolutionizing internet security
Despite spending billions of dollars on existing Web2 solutions, Interlock was born out of the need for more effective internet security, aiming to use Web3 technology to combat ongoing phishing and social engineering attacks and incentivize community threat intelligence sharing designed for the digital and crypto world by Intel.
To power ThreatLayer’s protection with the best available threat intelligence, Interlock rewards users who share anonymous security data. While no security solution is perfect, quantity is security, and building the world’s largest crowdsourced threat community is Intel’s revolutionary foundation.
Equally revolutionary is the company’s pioneering use of blockchain and artificial intelligence technology in its platform.
Over the next few weeks, Interlock will launch its utility token $ILOCK to reward and enable community members to use cryptocurrency to facilitate rewards and secure stakes, allowing users to receive additional tokens when issues are detected by Interlock. Think of it as a combination of PayPal fraud and Twitter community note-style review systems. $ILOCK coins will be available on Ethereum’s leading layer 2 (L2) network Arbitrum and privacy-focused public blockchain platform Aleph Zero, which has a massive user base of 11.6 million. By offering $ILOCK coins on these platforms, Interlock provides users with choice, enhancing the security of all participants and expanding its network.
Interlock’s near-term product roadmap includes the ThreatSlayer on Mainnet, Token Generation Event (TGE), and Security Stakes.
Later this year, the company’s go-to-market plan is to monetize shared security data collected in the $11 billion B2B threat intelligence market annually, creating the first crowdsourced threat intelligence platform of its kind. The company will also launch enterprise versions of its products in the next 12 months.
In line with best practices in the Web3 community, Interlock is highly transparent and provides rich additional information in its resource center on the website and GitHub.
“Interlock’s mission is to address legacy Web2 security issues by harnessing the power of Web3. Our unique approach is by incentivizing users to share security data and use our security tools,” said Rick Deacon, co-founder and CEO of Interlock. “Under the leadership of ThreatLayer, we are building an effective and inclusive new era of internet security. As we embark on this journey, we are grateful for the support of investors who share our vision for a safer online world.”
The company raised $4.1 million in funding through two oversubscribed rounds of ILOCK private sales led by Outlier Ventures.
Jamie Burke, founder of Outlier Ventures, said: “We’re very confident in our investment to support Interlock’s mission to revolutionize Web3 security.” “Self-sovereign security impact in Web3 is an impossible burden for most users. ThreatLayer is a simple browser extension that can protect individuals, allowing them to join a large army of 29,000 users to collectively gather threat intelligence and earn as they go.”
How the revolutionary ecosystem of Interlock works
The Interlock ecosystem includes the internet security browser extension ThreadLayer, the data linking and open-source rewards system Galactus, and Octahedron, a proprietary AI-driven threat detection tool.
In the Interlock ecosystem, ThreatLayer users can choose incentive measures to continuously aggregate network activity and transmit anonymous threat intelligence data to Galactus.
Octahedron is the core of Interlock’s technology, using this data to identify, categorize, and even predict malicious web entities.
Octahedron is an advanced AI threat detection tool designed to deal with the complexity of cyberspace and continuously update ThreadLayer to enhance user protection. Using supervised learning from the SciKit learning library, it excels at classifying objects, identifying relationships, and predicting trends based on historical data. Using Interlock’s proprietary decision tree algorithm, it evaluates websites to identify potential threats and prevent users from entering dangerous network areas.
Octahedron is trained on various data, including known crypto scams, phishing links, dangerous URLs, malware, etc., ensuring that it can sensitively detect issues. By increasing dimensions, such as the presence of specific keywords like “cryptocurrency” or “free money,” reviewing suspicious JavaScript functionality, detecting malicious code, and evaluating website domain names and traffic patterns, its accuracy in identifying malicious sites is enhanced. As Octahedron’s size increases exponentially, so does its effectiveness in defending against network threats.
As this powerful internet security data ecosystem flourishes, Interlock’s blockchain infrastructure, the operational pillar, ensures user trust and system security. These components seamlessly weave together a unified system where data collection, threat analysis, and token rewards merge in synchronous dance.
Interlock’s reputable team
Interlock’s CEO and co-founder Rick Deacon has a wide-ranging background in network security, from hacking MySpace to building the next generation of decentralized security. Rick was the former CEO of a Y Combinator-backed browser defense platform startup that sold its software tech to Coinbase, Gemini, and Uber.
The company also benefits from the expertise of two senior advisors, Ethan Johnson and Ajeet Khurana. With over a decade of experience in network security, Ethan, with his expertise in crypto architecture and control design, formulated Interlock’s enterprise product strategy. His security responsibilities at Citadel Securities, Galaxy Digital, and New York Mellon Bank highlight his expertise in protecting the emerging digital asset industry.
Interlock advisor Ethan Johnson said: “Unlike many AI companies that achieve overnight success, Interlock’s team has been building and fine-tuning AI-based network browsing protection for years.” “I’m excited about the possibility of making risky internet browsing safer for users.”
Ajeet, the founder of Reflexical, brings a strong background to help Interlock fulfill its mission of bridging Web3 security gaps. His previous positions, including CEO of India’s largest CEX and head of the blockchain and cryptocurrency committee, provide a unique perspective and expertise for Interlock’s success.
Interlock advisor Ajeet Khurana said: “Interlock’s pioneering approach to incentivizing security combines the power of AI with the collective strength of the community.” “In the realm of Web3 self-sovereignty, security issues can be terrifying for most users. However, ThreatLayer provides a unique solution. By seamlessly integrating AI and the community, users can effortlessly identify threats and earn rewards.”
Join the Interlock community
Users ready to get better internet protection and start earning rewards for browsing can now download ThreatLayer and become a member of the rapidly growing Interlock community. For more information on ThreadLayer, the Interlock ecosystem, Web3, blockchain, tokenomics, and more, visit our extensive resource library and be sure to check out our community on Twitter, LinkedIn, Telegram, and Discord. Users are welcome to visit, say hello, and ask questions.
About Interlock
Interlock is at the forefront of the internal security transformation of Web3 with its AI browser extension Threatslayer. Interlock has built a unique crowdsourced threat intelligence platform, protecting users from dangerous websites, wallet losers, and scams, while rewarding and incentivizing them to share data. With over 30,000 weekly users and a strong community of 79,000, it has received $4.1 million in funding from an oversubscribed private sale led by Outlier Ventures.
