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Hacken (HKN) Doubles Quarterly Revenue Amid Crypto Winter

hacken bull

Despite the miserable performance of the cryptocurrency market in recent times, certain projects are managing to record strong financial numbers en route to building their respective blockchain-based solutions that were pitched to ICO investors many months ago.

One such project appears to be Hacken, an Estonia-headquartered startup developing an ecosystem of cybersecurity products. Referred to collectively as the Hacken Ecosystem, the Hacken team has already launched numerous products such as the HackenProof bug bounty and vulnerability coordination platform, as well as Hacken Hub – a security consulting service specializing in blockchain and fintech projects.

On Wednesday, Dmytro Budorin (CEO & Co-Founder) addressed the Hacken community via video; the first such weekly update from the team. One of the most notable snippets from Hacken’s short video came in relation to last week’s publication of its Summer Report 2018 – a communiqué that, whilst thoroughly detailed, was lacking in one vitally important category: the disclosure of figures re business activity.

“I know that a lot of you are asking ‘where are the numbers?’” the Hacken CEO stated in Wednesday’s broadcast. Keen to quash any would-be negative speculation about this omission, Budorin shared that:

The numbers for revenue in quarter three have doubled compared to quarter two.”

Proud of Pavlo

In his update, Budorin also revealed that he was “so proud” of Pavlo Radchuk (Application Security Engineer, Hacken) for having been a part of the team that developed the winning decentralized application (dApp) at the SecurEth-run hackathon that took place just days ago during Berlin Blockchain Week.

Budorin informed the Hacken community that more information about this winning dApp will be shared in the near future. He also anticipates that Hacken’s development team will “use it very soon in [their] audits and… new projects.”

Full Disclosure

Finally, Budorin revealed that he expects video updates such as Wednesday’s to occur every fortnight. Such an initiative has begun to be implemented by various teams that comprise the crypto space.

The impetus for such a trend, many believe, is an intensified degree of scrutiny from early-stage investors who – having endured severe financial losses during the current bearish cryptocurrency market – are beginning to demand greater transparency from senior team members regarding project development and treasury management.

Hacken Weekly Updates #1 – 3-9 September 2018 from r/hacken

Image From Shutterstock

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