Achievement 2 @bloggerpuspita Task: Basic Security on steem
Steemit is highly secure platform and to make it more secure it provide different keys with different level of permissions.
KEYS AND PERMISSION
The steem community has made it easier to hold our keys knowing full well that the keys is likely to be compromised the more it is used, and with that they separated the keys accordingly. There are 3 different kinds of key:
- Posting Key:
The posting key is use for everyday login, to make posts, vote and comment on other users post. The posting key is one of the frequently used keys and has a limited a limited set of permissions for social action and with the posting key we can engage in the community and make posts which is one of the ways to build up in the steem block chain. These are some of the functions of the posting key
• Punish and comment in a post
• Edit post or comment
• Follow other users
• Mute account
• Vote or down vote, etc.
- Active Key:
It is used while performing sensitive actions related to your funds. If you want to perform actions like transferring funds, power/down transactions, converting Steem Dollars, voting for witness, updating profile details and avatar, and placing a market order you have to use Active Key. Active Key is also generated by Steemit itself and is also given to you along with the posting key. These are some of the functions of the Active key
• Transfers steem to other user account
• Power up/ power down
• Create a new user
• Vote for witnesses
• Place an order on an exchange SBD conversion, etc
• With all this in mind, the active key is worth every protection like my bank account details and password.
- Memo Key:
It is used to encrypt private messages that are sent through blockchain. It is not so common in use right now but it may be popular key in future. This key as I was told can be used for encryption of memos. Before transferring funds to other wallet/user it is advisable to encrypt it with a memo by using the # key sign before it, this key can as well perform a decryption task so the memo key is used for encrypting and decrypting memos.
- Owner Key:
It is most powerful key because if you what change any key i, e posting key, active key, memo key or even owner key itself you can change it by using owner key. It is highly recommended that you save your owner key somewhere offline. Another important thing is that if I lose my owner key it will be impossible for me to recover my steemit account.
- Master Password:
This password is used to generate all other keys, including the owner key. The only reason we should ever be using our master password is when we are going through the ‘account recovery’, in which case we should be retrieving the master pass word from my safe storage. It is the pass word through which I get upon sign up.
WHAT TO DO I DO IF LOST MY PASSWORD
Having been told to protect my password as it can be compromised or loss but with my master/owner key I can recover and change the whole keys, but if I lost my master keys then my account is likely to get compromised. With that in mind I decided to store my master key in a cold vault where I saved most of my sensitive password with a password protection app, where I can easily access and recover my account and other keys if lost.
QUESTIONS
• Have you retrieved all your keys on Steemit?
Yes I have retrieved my keys on steem. I got all my keys with me.
• Do you know each of those key your master password?
Yes just like I mentioned above, I've understand their functions and restrictions, each key has its work and level of performance.
• How do you keep your master password?
I stored my master password in a password protection app.
• Do you know how to Power up your account?
Yes I've been thought on how to power up my account with purchased steem or the ones I earned from votes or curation rewards, I can also delegate my steem power to give me more powers to vote other users and make posts.
I thankful to my mentor @cryptokannon as a guide and for her support, I get this opportunity to know better on the basic security system on steem. Only for her cooperation we understand the keys and their functions.
Thank you my mentor @cryptokannon