ICO Review: SISHUB - Security Intelligent Systems

This week ihodl.com presents an overview of the Sishub project, which pursues the idea of cybersecurity and provides blockchain based solutions for maximum protection of governmental, commercial and defense organizations all around the world.

Sishub aims to develop a decentralized anonymous ecosystem STEEL to provide the highest protection for data exchange, messages and payment transactions. Sishub solutions will allow data to pass through a large number of points in a decentralized network to protect identity without intermediaries or observers.

STEEL Ecosystem

According to the whitepaper, STEEL platform offers the following solutions:

STEEL ecosystem is based on a hybrid Tor-like network and uses PGP, AES, CBC, DSA, HMAC, SHA-256 encryption algorithms, as well as tunnels and complex identification instead of IP addresses. A hybrid peer-to-peer Tor-like network will work using blockchain with the support of a hybrid peer-to-peer (P2P) Tor-like network. This decentralized network architecture is an overlaying network (a computer network that is built on top of another network) based on equality of participants, in which each node acts as both a client and a node. All the information about STEEL network can be found in the separate Specification document.

The project also represents a decentralized antivirus software based on the blockchain technology and P2P network for protection against viruses and interventions into private and corporate data, as well as for searching and correcting network weaknesses.

The team claims that the main advantages of the project are: complete anonymity, customization of API technology, high protection of user data and identification of security flaws, as well as maximum privacy.

Sishub products can be customized to meet the requirements of individuals and any organizations, such as banks and financial institutions, insurance companies and government agencies. Currently, the project has released the alpha version of STEEL messenger and is preparing for a public ICO.

The launch of the project is scheduled for 2019: a beta version of the messenger will be launched in February and a decentralized network STEEL in March. Official version of STEEL messenger will start working in May 2019, the wallet in June. In 2020 all systems of the platform should come to life.

Overall score: Great plan but only half-way done

STL token is a utility token used in the STEEL ecosystem as a local payment system. Tokens will provide the ability to support data exchange and communication within overlay networks and decentralized apps.

STL Token provides functions, necessary to create a fully decentralized fast payment system without fees. Also tokens will be used to simplify payment processes like sending messages in the STEEL messenger or using the antivirus. STL tokens will be used to support the STEEL reward mechanism.

Total amount of STL tokens is at 35,000,000,000. The soft cap composes of 5,000 ETH, the hard cap is 50,000 ETH. All unsold tokens will be burned. The team claims that the funds collected through a soft cap make it possible to develop the STEEL ecosystem and maintain the infrastructure.

Speaking about legal part of the project, during the token sale the Security Intelligent Systems Ltd which based in Israel seeks to comply with all existing security rules: STL token buyers must follow AML and KYC procedures, study the Terms and Condition and Disclaimers.

Moreover the project made a [Sishub Security analysis of Token Sale](https://sishub.network/images/legal-pdf/LegalOpinion(SISHUB).pdf), where it explained that STL token isn’t a security in accordance with U.S. law.

Overall score: Good

The team consists of 17 main participants and 7 advisors, where almost all the team members are blockchain developers.

Taking a look at the social activity of Sishub it can be said that the project is very active and has accounts on all known sources, including Reddit and Github, where the team showcases the smart contracts of the future platform.

A particularly lively discussion takes place in Bitcointalk, where the team talks about each step of the project’s development.

It’s worth mentioning that the project is present in listed in many ICO rating agencies.

Overall score: Very good

Total Supply 35,000,000,000 STL

Soft Cap 5,000 ETH

Hard Cap 50,000 ETH

Additional Emission No

Accepted Currencies ETH

Token Type ERC-20

Bounty Yes

Sale Starts November 20, 2018

Sale Ends January 20, 2019

Sishub project offers a wide and secure range of data exchange, messages and payment transaction services that will work on its own ecosystem. The issue of security and anonymity has been vital to the community spread throughout the world for a long time, so the project has a good chance to offer its unique products. At the same time the project’s audience despite positive reviews, is composed of less than 20,000 people, although the project claims to be global.

Blockchain network launch is scheduled for April 2019, the developers are working on the ecosystem, so at the moment it’s not possible to test the efficiency and convenience of the platform.

Additional questions may arise due to the use of anonymous messengers, which in some countries are officially banned. Such projects have already been launched and the developers will have to make a lot of effort to convince the audience of the uniqueness of the project.

At the same time despite a global decrease in ICO investment the project gathered 591 ETH during pre-sale stage, which indicates the interest and faith in the project.

We wish Sishub good luck and hope they will find a solution that will appeal to users around the world.

Click here to visit Sishub page in the list of upcoming ICOs.