SMILING SELFIE CONTEST 2 BY @bob-elr : Steemit Blue Paper Digest(Hierarchical Private Key Structure)

Hello great steemians. This is another wonderful contest organised by @bob-elr.

Before i proceed into the content of the contest, i really appreciate the effort of @bob-elr for this great opportunity to smile away worries and to boost ones knowledge and idea about steemit white paper and blue paper as the case may be.

This is what i digest in Steemit Blue Paper under the sub heading -

Hierarchical Private Key Structure

What I read and understand about Hierarchical Private Key Structure is that, Steem make use of This Hierarchical Private Key System to monitor and secure transactions base on their levels or security. There are some transactions in the Steem Blockchain that require high security while there are some transactions that are of low security.

These Hierarchical Private Key System include:

• Posting Key,
• Active Key,
• Memo Key,
• Master Password/Owner key

Posting Key

The posting key is a private key in steem that is used for posting, voting and commenting. you can also use this key to edit, resteem, follow other accounts. It is advisable to use this key to sign in to any third party’s website in order for the users’ account not to be compromise.

Active Key

The active key is another level of Hierarchical Private Key that is majorly used for carrying out transactions on the steem Blockchain. It is used to make transfers and place orders in the internal market. This is High-security transactions. This key also has influence on the posting key as it can be use to reset posting key.

Memo Key

The memo key is used to create and read memos. This is the Private Keys that allows users to read any memo sent and it also allows creating memos.

Master Password/Owner key

This is the high level of security which encrypts all other three keys. It is the mother of all other keys. It allows users to keep improper keys from being maneuver or transferred across any service. This password when properly kept can be use to restore the other password or keys when hijack. It is better to keep the master key secure because that is the key that prove the ownership of account and it is delicate to be compromised.

To check check the privacy keys, on your accout, follow the guidlines below

Thanks for Digesting.

Below is a picture of me for the contest (Taken using Itel 1556 plus)