Steemit Crypto Academy Contest / S16W2: STEEM Blockchain Privacy

Hi, This is Asad Fazal from Pakistan. I hope everyone here is fine and enjoying their life to full. Today I'm here to take part in the Season16 Week2 contest held in SteemitCryptoAcademy. The topic decided by the team is STEEM Blockchain Privacy. So lets start!

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How does the STEEM blockchain incorporate privacy features for users, and what security measures are in place to protect sensitive data?

Just like other blockchains, STEEM blockchain take care of security and privacy of it's users. Users are allowed to create their account without their real name which gives control over the account. STEEM blockchain uses encryption techniques to secure transactions. You can do transactions on our own and can keep keys to yourself.

Furthermore, to enhance more security users are given the private keys that are used to do login, posting, transactions, powerup, powerdown, and other things. The best here is the Master Password that is not required to do transactions or anything but it is the most powerful key that if your account got hacked, can help you recover it.

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To protect sensitive data, STEEM blockchain has security measures that include cryptographic methods to encrypt data which makes it difficult for hackers to change or manipulate. Furthermore the best thing is STEEM employs decentralized consensus mechanisms that means no single entity has control over the network making it hard to hack or crack. These security measures work together to make platform and it's users safe including their privacy.

How have privacy mechanisms, such as private transactions or account privacy features, been implemented on the STEEM blockchain?

What I have seen and is good that STEEM blockchain is not fully private but the transactions are transparent mean where the amount is send and from where it is received can be seen easily. But there is an option for user who want to hide a message (MEMO) in transactions, they can use Memo private key while sending the amount. It can only hide the message but not the amount send or receive.

About account privacy features, users are allowed to hide their location, name, and image but still you have to verify yourself in communities either through images shared in posts or on discord to the newcomers mods. Furthermore, there are different types of keys including posting, private key, owner key, memo key and Master key. All of these are used to do some tasks on the platform.

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The best thing that Steem blockchain do is when you create an account, your keys are downloaded in a PDF file that includes all of your keys data and username. This Pdf is auto generated and is deleted immediately after you download it in your PC. It means the Steemit team has no access to your private keys and it is only you who have access to them that makes the privacy mechanism strong as compared to other social platforms.

How are security protocols, such as data encryption and protection against potential attacks, strengthened on the STEEM blockchain?

STEEM Blockchain has strong security measures. It is nearly impossible for hackers to steal the data or Steem and SBD coins that are in one's account. On the platform, security is focused by cryptographic algorithm and decentralized consensus mechanisms. For transactions only encryption is done on the message or Memo you are attaching with the transaction but not the amount being send or receive. Let me share security the protocols that are strengthening the platform.

Delegated Proof of Stake (DPoS):

I talked about this above already but let me explain it in full here. Delegated Proof-of-Stake (DPos) is a technique used to protect the network from potential attacks and hackers. They are also used to validate the transactions, posting, commenting and replies on the platform. It works in a way that STEEM holders can vote or select a witness node depending on the work of that witness for the platform.

These witnesses have to stake a specific amount of tokens in order to show their commitment to the network. After that witness stake specific amount that can change through consensus mechanisms, the users who hold SteemPower(SP) in their account got right to vote for the witness. After getting specific amount of votes, a witness is added to the network to complete it's responsibilities.

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PowerDown

As we powerup our Steem to SteemPower to get influence over the platform, there is an option to powerdown SP to Steem. The best security mechanism here is that powerdown takes 1 month(4 weeks) to complete which makes the hackers think they can't wait for a month to steal money and it makes the platform more strong and secure. No matter if your private key is exposed to hacker, if your Steem is in SP form they can't steal it.

Private Keys

The private keys play important role in the security and privacy of a user. These keys are used to do transactions, posting, commenting and even hiding messages in Memo while sending or receiving steem. These keys are required to sign in transactions that let the system verify that it is really you who is doing transaction. Without private keys no one can withdraw the money from the account.

Can you illustrate specific use cases where STEEM's privacy features have been particularly beneficial to users?

Yes I have used the privacy features of Steemit when sending a transactions. I don't remember the exact date but at that time I send some steem to tipu before verifying myself on the platform. It was the time I was not aware of the communities and SEC. I was checking Memo key and used it to send the steem. But unfortunately the url was ignored which I send in the Memo because it was hidden and bot can't understand it.

If I talk about identity hide then yes I have seen many cases where users hide their real name, photos and location and just post outside the communities to get vote from the bots which is against the SEC rules. One can start it but if he/she do spamming their posts will be downvoted and they will not earn anything plus their reputation will be reduced.

Another privacy feature is recovery process that is only done if you have set a recovery account for your account. Otherwise, if you have set the account to null, no one can help you in recovering of your account. I have not seen any case yet about recovery of any account yet but maybe will see a case in the future.

What do you think are the next steps to develop to strengthen privacy and security on the STEEM blockchain, and how can these improvements influence adoption of the platform?

To make the platform more strong and strength the privacy and security, I think there are few options that can be added in the platform. First thing what I like and can be done easily is if a person is about to do the transaction on the platform like sending or withdrawing an amount, an email code or mobile code should be send to him for verification. If there is cost issue for mobile code, it can be done through email codes.

Another option that can be added is giving more control to users over their posts, comments, and profile settings. Their must be an option to hide what they don't want others to see except the admins and mods of SEC communities.

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One more things that can be done on the platform is login details send on the email whenever a user login to their account. The login details can be like location, IP, and time of login. It will help that user to quickly login his account and change passwords if someone else login his account.

These changes on the platform in security terms will attract more users because people want to keep their data save and secured. By working on the security issues and regularly updating the Steemit community plus on Twitter(X), it will help influence the adoption of the platform.

Thank You For Reading

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