Openledger wallet review
Denmark
- Overview
- Security
- User Experience
Airbitz is an online wallet platform that is integrated into the OpenLedger decentralized exchange system, dubbed 'perhaps the world's most powerful' decentralized financial platform. It is powered by the BitShares technology. They claim to be faster, much more secure, and offer more features than the Bitcoin network, with price-stable market-pegged assets (SmartCoins) and user-issued assets.
OpenLedger is a complex ecosystem that provides many more features than other wallets besides access to the BitShares network, users can deposit fiat currencies in the wallet as SmartCoins and generate user-issued assets (create their own token to use for various purposes like crowdfunding or company shares). Users can connect to other wallets and use those assets on the OpenLedger exchange.
Company / organization behind the wallets
The well known and respected Danish Exchange CCDEK is behind the Open Ledger platform. It is part of a major conglomerate that includes BitTeaser, OpenLedger, Obits, and other blockchain projects. Their success has not yet been fully tested.
OpenLedger claims to have a high level of security and not to store users private keys. Although encrypted, the private keys are stored locally on the users computer along with the recovery file. This is not considered a very secure option by industry standards. It is not uncommon for less established coins to start with less security.
OpenLedger has made an effort to predict the issues that a user might encounter on the platform and has created a robust Help and FAQ section on the website. The design of the platform is sleek and looks very professional. Some users have complained about it being too complicated, but upon login there are two versions to choose from - basic and advanced.
Summary:
OpenLedger is a complex ecosystem of innovative blockchain projects, including the wallet, which is actually the same thing as the user's account on the platform. The wallet functions are perhaps the least important aspects of OpenLedger, but they include things like SmartCoins and user-issued assets, which is something new and interesting when it comes to cryptocurrency wallets.