The Importance of Two-Step Verification for Wallet Security on Steemit

in Steem Alliancelast month

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Steemit is a blockchain-based social network which enables users to earn cryptocurrency by publishing, curating, and commenting on the content published over it. Being decentralized in nature, Steemit applies the system of Private Keys: Active Key-It controls wallet functions, including the transfer of assets. In case any user loses an Active Key, then he is under threat from hackers entering the wallet and stealing important assets. This displays that modern security features, such as two-step verification, are greatly needed to protect the users.

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Two-step verification would bring a layer of security apart from the Active Key. It will not rely on any password or key but instead be dependent on another form of verification; it could be in the form of a code sent to the mobile device of the user or a verification app. Even in this case, where the Active Key is compromised by a hacker, completion of transactions could not be made without the secondary authentication. This system enhances security exponentially, since it would now be phenomenally more difficult for any unauthorized party to breach a wallet, hence providing much greater security for the users holding cryptocurrency.

By enabling Two-Step Verification on Steemit, crystal benefits accrue in return. The risk of wallet compromise can be close to nil; people could rest assured that their assets are now much more secure. As cryptocurrency and blockchain reached critical mass, the tendency of cyber-attacks nowadays is much more critical, and it becomes indispensable that such platforms employ more advanced security protocols.

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Though Steemit is already having a number of keys that safeguard in multiple layers, to add a Two-Step Verification to it would mean at any financial transaction, verification shall be sought at the point of dispensation. As things stand now, it is a time when Steemit needs an upgrade in terms of security features to the potential that this platform holds.

With Two-Step Verification in place, Steemit can create far more trust in the community and keep working on being one of the most important blockchain-based platforms.


Published On:- 01 October, 2024



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