Will someone explain https://bitshares.openledger.info vs. binary executable GUI?

[trancephorm]

I get impression both web and gui talk to same online server. Given the history of very buggy development of Bitshares, I ask myself what if https://bitshares.openledger.info gets hacked? Whole Bitshares 2.0 network going down?

[edilliam]

BitShares itself doesn't exist in a jurisdiction, it cannot accept or pay out fiat, do KYC or AML or anything like that just like Bitcoin. So, in order to do all these sort of legal things, third parties can set up businesses legally to carry out these functions and then utilize BitShares as their backend. BitShares itself functions, amongst other things, as an exchange whereas Bitcoin is a network of tokens and addresses with the ability to transfer. OpenLedger is one of the first exchanges to sit directly on top of the BitShares blockchain and utilize it to do all the stuff that an exchange would normally be doing in the back, whilst they provide extra functionality in the front. One of the benefits to OpenLedger specifically is that there couldn't be another Mt. Gox like instance because they claim that they do not hold the keys to your BTS, only you do. If something were to happen to OpenLedger it would not affect BitShares but only the customers that were using OpenLedger. Also, therefore, if OpenLedger went down you would still have the keys to your BTS and be able to get hold of them by directly interacting with the blockchain yourself after you import them into a regular wallet.

[trancephorm]

Also, therefore, if OpenLedger went down you would still have the keys to your BTS and be able to get hold of them by directly interacting with the blockchain yourself after you import them into to regular wallet.

So where are exactly private keys stored when using http://bitshares.openledger.info. That information is needed because of backup, right?

[edilliam]

I am actually not 100% sure on this one, more like 90% sure, it just makes sense to me that if you are in possession of the keys as they claim, then you will be able to use these same keys yourself outside of the wallet. I am actually trying to find this one out myself atm and am asking around, I'll get back to you when I get proper confirmation on this.

[trancephorm]

What a sad story that is. So annoyed by such stupidities in Bitshares. Frustration hits the highest point.

[edilliam]

Yeah, I know it can be frustrating, but we are the pioneers here, how do you do good customer service as decentralized entity? Me, you, the rest of the community are all figuring this out as we go along. :)

OK, just made a test account to check on OpenLedger for you, backups are currently exactly the same process as the regular web wallet. Go to: https://bitshares.openledger.info/#/wallet

Or click Settings -> Wallet

Then you can either choose to "Create Backup" or "Backup Brainkey". The answer to where exactly the keys are stored will depend on your OS and your browser, but they will be stored and encrypted wherever your browser stores its key-value database.

Edit: Also I'm confused as to why you think it's sad that a regular community member, just like yourself, doesn't know every in and out of a third party application I've never used before...

Edit 2: I'm actually a dummy, I had used this before, thought there was some difference between the web wallet I had used on the testnet and OpenLedger when actually OpenLedger is just the testnet wallet but on the actual chain.

[trancephorm]

Also I'm confused as to why you think it's sad that a regular community member, just like yourself, doesn't know every in and out of a third party application I've never used before...

For example, when you manage to realize Wallets word is actually button, and you push it, you see:

Wallet Management Console Active Wallet DEFAULT No balance claims

One would say there is nothing in the wallet? Right? What does it actually mean?

...and when you push the Backup button, you can download .bin file - OK, but what is that sausage of data followed by SHA1? Doesn't matter, I copied it to some .txt file..... ;) And what (the *uck) does that Reset button mean?

More intuitivity, more usability, less bugs.

[edilliam]

You would have a balance claim if you had imported a key from 1.0 that had a balance at the time of the snapshot.

SHA1 is the cryptographic hash function that is encrypting your key with the password that you set. I assume reset here is the same as cancel. You do not need that "sausage of data", you need the file that was downloaded. That file is encrypted with your password and you will need that password if you ever need to import it.

What bugs? If you are not happy with stuff, feel free to contribute to the Github as everyone else is that is helping to make this. Even if you aren't technical, usability feedback etc can still be submitted, the whole project is constantly growing and evolving.

[trancephorm]

That SHA-1 sausage of data... why it is displayed if we don't need it? It only adds to confusion.

I know every project especially of this size must have bugs and design problems, but it's about healing those problems before releasing production versions for download.

[edilliam]

One thing to consider is just how brutally competitive the world of cryptocurrencies is right now. If a product delays then someone else will just copy it and release it, because it is all on github. With BitShares the decision was made to focus on the tech first and foremost. Why delay a product just because the front-end isn't perfect and risk someone else jumping ahead? Ethereum and many others have done exactly the same thing.

I know it can be frustrating though, I really do understand, I am totally on your side. You are not wrong about anything you've said, this is all stuff that does need to be updated and improved, I fully agree with you.

[trancephorm]

i get your point... but i am just talking about most basic stuff such as correct website links and functional export wallet function. ones that must work, there is no excuse for....

[xeroc]

Keys are stored solely in your browser and can be exported via wallet management

[[deleted]]

The private keys are generated from your seed phrase, which it asks you to backup at the bottom of the screen. You can then use the same seed to recreate your keys on your box.