ICORating analyzes the top 100 crypto exchanges on the basis of four categories- domain and registrar security, user security, DoS protection, and web security. Also, the report mentions measures, issues, a graph relating various aspects responsible for the ranks. Considering the report, on the 10th page, there are three exchanges which top the ranking:
- Kraken at the first position
- Cobinhood at the second position
- Poloniex at the third position
Initial two crypto exchanges achieve A ranking, whereas Poloniex exchange gets A- ranking. Here is a screenshot that explains the ranks accordingly. It seems Binance does not appear in the top 20 list and currently ranks at 35 while talking about security.
What Are The Methodologies For The Rankings?
ICORating platform applies the analysis on four components while sorting the ranks of “Top Exchange Security”. The aspects are domain and registrar security, user security, DoS protection, and web security.
Moreover, assuming User Security, while creating the accounts every exchange conducts its own multiple tests. The user security depends and recognizes using four parameters.
- Initially to check out for errors/bugs in the exchange content code causing in malfunction within an application.
- Next is the capability to generate a weak password.
- Third, comes as confirming actions via mail.
- Lastly, the availability and accessibility of 2FA (two-factor) authentication.
Meanwhile, how can exchange check with the Domain and Registrar Security? The respective team analyzes the errors performing inspection with the role accounts usage, registry lock, and Domain Name System Security Extensions.
On the other hand, the platform then goes for web security. ICORating has already cross-checked for the fulfillment of particular security standards including Click-jacking attack protection, HSTS header presence, Man-in-the-middle attack protection, Drive-by Download attack protection, etc. to generate the report.
The team working at ICORanking has also incorporated test cases for Denial-of-Service attack protection. Every single category scores on the basis of the following system:
- 1st Parameter- Registrar and Domain Security: Max 18 points, accomplish 4 parameters analysis
- 2nd Parameter- User Account Security: Max 17 points, accomplish 4 parameters analysis
- 3rd Parameter- DoS attack protection: 8 points, only 1 parameter analysis
- 4th Parameter- Web Security: Max 57 points, accomplish 10 parameters analysis
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