EN
Open Ledger is a project that has recently gained attention due to its significant funding of approximately $8 million. This project has sparked discussions about its innovative features and potential risks, particularly concerning data security. In this article, we will explore the details of Open Ledger, including how to participate in its farming process and address concerns regarding data leaks.
The funding for Open Ledger has been impressive, raising $8 million in its seed round, indicating strong investor confidence. With the postponement of its listing on YouTube1 to January 17, expectations are high for its performance on major exchanges like Binance. Analysts predict that if market conditions are favorable, the token could reach a target price of $0.50.
Open Ledger operates on a data-based model where user data is collected and points are awarded based on this data. Users can farm these points, similar to operating a saffron node or gradient. The project encompasses various models, including gaming and web development, with a focus on a data intelligence layer that is currently operational.
There have been criticisms regarding Open Ledger's data handling, particularly concerning permissions for modifying data. The project team has clarified that the permissions in question are standard practices for data management. Users are encouraged to sign up using an alternate Gmail account to enhance security while participating in the platform.
To start farming points in Open Ledger, users need to sign up and claim daily rewards. Upon signing up, users receive 20 points, and claiming daily rewards can yield an additional 50 points. Users must install the Open Ledger node and utilize the provided extension to track their points effectively. It is advisable to use a separate mobile device for optimal performance.
Setting up the Open Ledger node involves downloading the necessary software and ensuring it runs in the background. Users may encounter technical issues, such as WSL problems on their PCs. It is essential to follow the installation instructions carefully to connect to the dashboard and start accumulating points.
Open Ledger presents a promising opportunity in the evolving landscape of web3 projects. With its substantial funding and innovative approach to data management, it could be a significant player in the market. As 2025 approaches, it is crucial for investors and users to explore various projects and find what works best for them. Staying informed and engaged with developments in the web3 space will be key to capitalizing on future opportunities.
Q: What is Open Ledger?
A: Open Ledger is a project that has gained attention due to its significant funding of approximately $8 million, focusing on innovative features and potential risks related to data security.
Q: How much funding has Open Ledger received?
A: Open Ledger has raised approximately $8 million in its seed round, indicating strong investor confidence.
Q: When is Open Ledger's listing expected?
A: The listing on YouTube1 has been postponed to January 17, with high expectations for its performance on major exchanges like Binance.
Q: What is the target price for Open Ledger's token?
A: Analysts predict that if market conditions are favorable, the token could reach a target price of $0.50.
Q: How does Open Ledger's data-based model work?
A: Open Ledger collects user data and awards points based on this data, allowing users to farm points similar to operating a saffron node or gradient.
Q: What are the data security concerns regarding Open Ledger?
A: Critics have raised concerns about data handling and permissions for modifying data, but the project team has clarified that these permissions are standard practices.
Q: How can users enhance their security while using Open Ledger?
A: Users are encouraged to sign up using an alternate Gmail account to enhance security while participating in the platform.
Q: How do users farm points in Open Ledger?
A: Users can start farming points by signing up, claiming daily rewards, and installing the Open Ledger node along with the provided extension to track their points.
Q: What technical setup is required for Open Ledger?
A: Users need to download the necessary software for the Open Ledger node and ensure it runs in the background, following installation instructions carefully.
Q: What should users do if they encounter technical issues?
A: If users encounter technical issues, such as WSL problems on their PCs, they should follow the installation instructions carefully to connect to the dashboard and start accumulating points.
Q: What are the final thoughts on Open Ledger?
A: Open Ledger presents a promising opportunity in the web3 landscape, and as 2025 approaches, it's crucial for investors and users to stay informed and engaged with developments in the space.