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PPTP 
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L2TP/IPSec 
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OpenVPN 
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Background 
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A very basic VPN protocol based on PPP. The PPTP specification does
  not actually describe encryption or authentication features and relies on the
  PPP protocol being tunneled to implement security functionality. 
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An advanced protocol formally standardized in IETF RFC 3193 and now the
  recommended replacement for PPTP on Microsoft platforms where secure data
  encryption is required. 
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An advanced open source VPN solution backed by 'OpenVPN technologies'
  and which is now the de-facto standard in the open source networking space.
  Uses the proven SSL/TLS encryption protocol. 
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Data Encryption 
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The L2TP payload is encrypted using the standardized IPSec protocol. RFC 4835 specifies either the
  3DES or AES encryption algorithm for confidentiality. IVPN uses the AES
  algorithm with 256 bit keys. (AES-256 is the first publicly accessible and
  open cipher approved by the NSA for top secret information). 
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OpenVPN uses the OpenSSL
  library to provide encryption. OpenSSL supports a number of different
  cryptographic algorithms such as 3DES, AES, RC5, Blowfish. As with IPSec,
  IVPN implements the extremely secure AES algorithm with 256 bit keys. 
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Security weaknesses 
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The Microsoft implementation of PPTP has serious security
  vulnerabilities. MSCHAP-v2 is vulnerable to dictionary attack and the RC4
  algorithm is subject to a bit-flipping attack. Microsoft strongly recommends
  upgrading to IPSec where confidentiality is a concern. 
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IPSec has no major vulnerabilities and is considered extremely secure
  when used with a secure encryption algorithm such as AES. 
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OpenVPN has no major vulnerabilities and is considered extremely
  secure when used with a secure encryption algorithm such as AES. 
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Speed 
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With RC4 and 128 bit keys, the encryption overhead is least of all
  three protocols making PPTP the fastest. 
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L2TP/IPSEC has a slightly higher overhead than its rivals due to
  double encapsulation. Comparable to OpenVPN under most conditions. 
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When used in its default UDP mode on a reliable network OpenVPN
  should perform better than L2TP/IPSec. 
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Ports 
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PPTP uses TCP port 1723 and GRE (Protocol 47). PPTP can be easily
  blocked by restricting the GRE protocol. 
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L2TP/IPSEC uses UDP 500 for the the initial key exchange, protocol 50
  for the IPSEC encrypted data (ESP), UDP 1701 for the initial L2TP
  configuration and UDP 4500 for NAT traversal. L2TP/IPSec is easier to block
  than OpenVPN due to its reliance on fixed protocols and ports. 
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OpenVPN can be easily configured to run on any port using either UDP
  or TCP. To bypass restrictive firewalls, OpenVPN can be configured to use TCP
  on port 443. 
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Setup / Configuration 
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All versions of Windows and most other operating systems (including
  mobile) have native support for PPTP. PPTP only requires a username, password
  and server address making it incredibly simple to setup and configure. 
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All versions of Windows since 2000/XP and Mac OSX 10.3+ and most
  mobile operating systems have native support for L2TP/IPSec. 
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OpenVPN is not included in any operating system release and requires
  the installation of client software. The software installers are very user
  friendly and installation typically takes less than 5 minutes. 
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Stability / Compatibility 
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PPTP is not as realiable, nor does it recover as quickly as OpenVPN
  over unstable network connections. Minor compatibility issues with the GRE
  protocol and some routers. 
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L2TP/IPSec is more complex than OpenVPN and can be more difficult to
  configure to work reliably between devices behind NAT routers. However as
  long as both the server and client support NAT traversal, there should be few
  issues. In practice L2TP/IPSec has shown itself it be as reliable and stable
  as OpenVPN for IVPN customers. 
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Very stable and fast over wireless, cellular and other non reliable
  networks where packet loss and congestion is common. OpenVPN has a TCP mode
  for highly unreliable connections but this mode sacrifices some speed due to
  the ineffeciency of encapsulating TCP within TCP. 
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Client compatibility 
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Conclusion 
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Due to the major security flaws, there is no good reason to choose
  PPTP other than device compatibility. If you have a device on which neither
  L2TP/IPsec or OpenVPN is supported then it may be a reasonable choice. If
  quick setup and easy configuration are a concern then L2TP/IPsec should be
  considered. 
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L2TP/IPSec is an excellent choice but falls slightly short of
  OpenVPN's high performance and excellent stability. If you are using a mobile
  device running iOS (iPhone) or Android then it is the fastest to setup and
  configure as it is supported natively. 
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OpenVPN is the best choice for all platforms. It is extremely fast,
  secure and reliable. Additionally, the IVPN multihop network is only
  available when connecting via OpenVPN. The only minor downside is the
  requirement to install the software client but on most platforms this only
  takes a few minutes. 
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