Achievement 2@adorable-diala Task: Basic security on Steem
Hello Steemians, I’m glad to have made it this far, having my introductory post verified. In this achievement 2, I am showing my understanding of the basic security on steem and how to effectively use my steemit wallet, Seeing I’ve retrieved all my keys on steemit.
Lets start with the keys on steem. We have basically five(5) important keys on steemit namely:
• Master password
• Posting key
• Active key
• Private owner key and
• memo key
The master password is used to generate the posting key, active key and private owner key. The master password has the greatest privilege to a users account and should not be shared with any person/platform. It is safer to print a hard copy and shelve in a well secured place or to backup on virtual memory such as Google drive in cases of hard disk failure or misplaced devices.
The posting key as the name implies grants users access to make posts on steem and it’s the most frequently used key on steem for making posts everyday. The posting key also allows users to comment, vote, resteem, follow and mute other accounts and a well as edit posts on steem
Active Key is a more delicate key that can do a range of things too. It controls users wallet and this implies that, sending steem, powering up, powering down placing market orders and updating profiles all depends on the Active Key. So the Active key should be kept very securely and shouldn’t be shared with any third party.
The owner key is another very delicate key that should be protected at all cost. It can alter the keys of an account and log the user out from his/her account. The owner key have a vast control over users account and should be stored in a very secure place, offline preferably.
The memo key is used for encryption and description of memo when transferring funds. The memo key isn’t so delicate and as a result shouldn’t raise concerns
Securing the keys in steem is very import, seeing these keys are delicate. The posting key is save to give out, the owner key and master key shouldn’t be shared , it is therefore best to keep them in a very safe place. Saving them on a text editor and keeping it offline, printing a hardcopy and keeping in a well secured box is advised.
Considering the steem wallet, there are basically three(3) types of steem
• steem
• steem power
• steem Dollars
The black arrow points to your steem (liquid), user can trade with it, power it to up and transfer it to another account.
The black arrow points to the steem power which can be converted to liquid steem. Bigger steem power increases users influence.
The green arrow points to the steem dollar which can be exchanged for steem. It can also be transferred to other users.
Transferring on steem token to another steem user requires the following procedures:
step 1: click on steem and select Transfer
step 2: Fill the required information
The back arrow indicates the where the receivers account should be entered.
The Red arrow indicates the amount to be transferred.
The Blue arrow indicates where the memo key that has been explained earlier should be entered
Then click on next
step 3: Confirm Transfer and Click on OK
In my wallet as seen in the image I have a 0.00 steem if I had some steem in my wallet and want to power up so as to earn more steem power as described above. The steps below describes the process
step 1: click on steem and select power up
step 2: enter the amount you want to power up. The black arrow points to the amount while the blue arrow points to the balance left.
step 3: click on power up
Hi, @adorable-diala,
Your post has been supported by @bright-obias from the Steem Greeter Team.
Thanks so kindly @bright-obias, @jehoshua-shey and @steemcurator03 for your support and votes. I feel good and excited to go on with my achievement3