Technical Review of a CryptoCurrency Exchange - OpenLedger.info

in #cryptocurrency7 years ago (edited)

OpenLedger.info



Is it hard ? Nope. It's just a simple stock market and an exchange office

Since we are having awesome progress daily with SteemIt and our dedication to complete follow up on eventual crash of this craziness and chaos, we had no other choice but to join the market...

After doing review some of the Exchanges (like any other stock market, before you are entering it) - OpenLedger.info was the right one.

Why ? Now lets do some technical review of OpenLedger.info as a website for a start.

Ease of Use GUI Interface

  • UI/UX is wonderful for this web. I don't know who actually contributed to it, but for a stock market it's super easy and accessible. I've been switching it from 13'' to 22'', from 7'' tablet to 4,5'' iPhone, and it's still wonderful.
  • Magic comes with a button Simple/Advanced View in the Header which really does what it says... Or it's simple that more simple can't be, or it's Advanced where only power stock people can play.
  • On the home page (Landing Page) you have very transparent list (Advanced View) of Top Markets, Accounts and History (Activity) which you can export to .csv (Very useful for further personal analysis of your own trading on daily/weekly/monthly basis), and bottom/footer is crazy nice locked with menu that can easily reach support, add coin and showing current market.

Settings button is just a normal settings, where you can set everything you need regarding your Dashboard, including no less than 3 templates which you can use for viewing this masterpiece of Digital Web Creation.

Domain and Hosting Security/Details

  • Domain openledger.info is ownership of a Denmark person/company ? Yes/Not/Maybe it's completely irrelevant at this point.
  • Domain has no privacy protection, details are random, email used is paid public email service at boesing.com
  • Domain has short expiry date (2018.) - which by my opinion can be extended to 2025. which can encourage us small tech people to not look at this as the potential scam.

    If you are the stock market, you shouldn't be having expiry date.

  • Domain openledger.info DNS resolved to 46.4.70.157.
  • Hosting 46.4.70.157 is a quickVPS German company, and person who is renting it is owner from Seychelles (which in this case has completely reasonable explanation - Tax, Government Prosecutions, etc...)

TRACEROUTE (using port 111/tcp)

HOP RTT ADDRESS
1 1.88 ms router1-lon.linode.com (212.111.33.229)
2 3.33 ms 109.74.207.0
3 3.31 ms 109.74.207.9
4 12.69 ms ae2-2077.fra20.core-backbone.com (5.56.18.1)
5 13.25 ms core-backbone-100g-fra.hetzner.de (80.255.15.122)
6 16.54 ms core-backbone-100g-fra.hetzner.de (80.255.15.122)
7 16.30 ms core1.fra.hetzner.com (213.239.245.9)
8 20.54 ms ex9k2.rz21.hetzner.de (213.239.203.194)
9 21.06 ms static.31.130.243.136.clients.your-server.de (136.243.130.31)
10 18.29 ms static.31.130.243.136.clients.your-server.de (136.243.130.31)
11 18.31 ms static.157.70.4.46.clients.your-server.de (46.4.70.157)

Yeah, they are definitely hosted in Germany :)

InfoLedger.info - NO rDNS of your own on IP even Dedicated ???

Further more, we did some Port Scan... This was result:

21/tcp open ftp
22/tcp open ssh
80/tcp open http Scan with Web Server Scanner
81/tcp open hosts2-ns
443/tcp open https Scan with Web Server Scanner
3306/tcp open mysql
5666/tcp open nrpe
8080/tcp open http-proxy Scan with Web Server Scanner

Are you serious ?!? 3306 and 22 as open ports ? Please hire security linux admin to fix that for you, so you not get hacked eventually leaving 3306 MySQL as publicly open port.

Even though you think you can avoid it with that nasty 81 hidden port inside, by protecting your "redundant node".

Conclusion for Technical Security and Liability on a hosting side ? Poor/Average - Not Good/Excellent definitely which is a MUST for banks/stock markets/etc even if they are using 3rd party API

User/Wallet Account Registration/Interface

When you come to Sign Up first time you have a very simple choice:

Wallet Account VS. Simple/User/Email Account

We strongly suggest Wallet Account creation. It's very simple, easy and less demanding rather than User/Email Account Creation and by the analysis of both Wallet is MORE SECURED .

Warning for Wallet Users - Once you save password, please DOWNLOAD BACKUP of your WALLET. Upload it to very secure remote place (DropBox or Private CloudStorage) and save a copy to your USB stick so you can easily connect to your wallet for any device/PC you are using. Otherwise, you are stuck to the browser/device you are using and there is slight chance of losing access to it completely.
This is the proof of security.

Warning for User/Email based accounts: You can easily be hacked and your wallet is never safe with you, but with some remote database that will keep your data. BEWARE!!!

Converting values to cash - CASHOUT

Don't be fooled and think it's that easy. They do track who is playing with what and how, so better prepare yourself for following documents:

  • ID/Passport: Both Sides
  • Utility Bill from the Address you claim

Photos can't be blurry or cutoff.

ADVISE: Use SCANNER to digitalize this documents with resolution no less than 150dpi (300dpi+ RECOMMENDED)

Before that, NO DEPOSITS/WITHDRAWALS.

Conclusion

  1. Ease of use - You need to spend at least one hour before documents validation just introducing yourself to it. Setting up account, setting default currency/values, etc... Without that, you are just risky consumer that can potentially, and completely unwillingly lose cash
    GRADE 8/10
  2. Account/Transactions Security - Wallet, Documentation, API Hash Keys for transfers, payments, openings.
    GRADE 10/10
  3. Hosting/Brand Security/Reputation - Exchange market that earns thousands of dollars per hour is to cheap fucking Charlie to pay domain for 10 years 70$ ? Owner hiding behind public email to be untraceable ?
    GRADE 3/10

We strongly suggest use of this exchange. Except few hosting security leaks and ownership/domain validation that are looking fishy a bit, this is probably best/most value for users Exchange interface available in CryptoCurrency Community.

Let's hope they will show us stability, and prove me wrong for few things.

Many thanks for reading this,

Sincerely Yours,

Anti-Steemer Milos @murda-ra

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i will go now and look out thank a lot for this awesome and well made post damn can you give some lesson

Im a bit torn on this exchangs i want to buy a coin only available on open ledger but i dont like the fact it says its backed by btc or whatever and used in their own currency it reminds me of paper gold

@ladram - its all still stock exchange and banking just presented in a different way and in the end of the day, its not cheap (comissions and fees) and worst part you still ending up holding cash (usd, eur, gbp, etc), so by my opinion, Paying 7% in converting local value to btc/bts then buying steem and spinning it more paying another 7% when i want it out seems not so profitable. You end up paying 14% just on in and out, plus exchange fees based on stock value of currency being changed...

Hope i havent dissapointed much with my answer :)

Cheers

Luci

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