Achievement 2 @ansaf Task : Basic Security on SteemsteemCreated with Sketch.

in Newcomers' Community4 years ago (edited)

Security!

It's a huge word. This word even brought Zuckerberg to the court room!😄

Steemit security is well based on a set of different types of keys . Posting key , Active key , Owner key & the Master Key.

Adobe_Post_20200930_2212130.08904597644450507.png

Posting Key

The key that should be used normally to login to steemit , steemitwallet , that allows us to post, upvote , follow , resteem , comment , mute , check notifications etc. This key is enough to login to steemit and to customize our profile also.

Active Key

The key which is needed for all the monetory actions including transfering tokens , powering them up, powering down, buying/selling the steem/SBD from market , delegating SP to other steemians. Even if we enter steemitwallet using our posting key we need Active Key for all the monetory actions.

Denominations of steemit
This should be mentioned when talking about active key . The denominations are
1)Steem: The tokens which can be transferred to another user, traded for money or even powered up to Steem Power.
2)Steem Power(SP): The amount of Steem tokens we have given/invested to the Steem Company , which have a huge effect on our curation rewards and will increase at an APR of 4.31% (as of now for my profile) which may be fluctuated. More SP we have , More influence we can make on steemit. But we need 4 weeks atleast to make Steem Power back into steem by powering down, if we need to convert it to liquid money.
3)SBD(Steem Backed Dollars): This will always have a value of approx. $1 all the time. This can be traded for steem in internal market or can be transferred to another accounts.

Steem_Icon_Blue-e1537216818812.png

Now coming back to the keys!

Owner Key

The key which should be stored offline, as it can be used to reset the posting , active and memo keys. If our account is compromised somehow , we can use this key at https://steemitwallet.com within 30 days to recover our account!

MASTER KEY

The most powerful key among steemit keys . This key can generate/reset all the keys including owner key. So it is very strictly advised to store this key not only store offline digitally but also written/printed physically in some paper and to store safely!

Let's take a moment to remember the Memo Key also. This key is used to decrypt the encrypted memo messages received. We can also send encrypted just adding # prior to the message.

When comparing the importance of steemit keys as far as i know its importance will be like shown below.
Master Key > Owner Key > Active Key > Posting Key
(Shown by personal understanding. Correct me, if I am wrong)

Coming to the questions by @cryptokannon

Question 1
Have you retrieve all your keys on steemit?

: Yes . I have downloaded the pdf with all the keys and stored both digitally and physically offline. I personally written down the master key onto my diary , as soon as I understood it has to be maintained highly confidential.

Question2
Do you know each of these key functions and restrictions?

: Yes, I believe so . And I have written almost every known information about the keys on this post already.

Question 3
How do you plan to keep your master password?

: As I mentioned I have stored it both digitally and physically offline (by taking a print of pdf with keys). My master key is safe in my diary until some termites do their job! 🤐

Question 4
Do you know how to transfer your steem token to another steem user account?

Yep. By tapping on the transfer button , from the drop-down menu revealed by that arrow button near to steem balance value in steemitwallet , I can transfer my steem to my fellow steemians/ preferred steem account. Enter the amount afterwards and the active key for the transfer authorization as well.

Question 5
Do you know how to power up your STEEM?

From the drop-down menu I mentioned in above answer I could select power up , enter the amount ,enter 'power up' button, enter active key for authorization and a click on 'submit'. Done!

This my 'Achievement 2 Task' Post for '500 SP Minnow support program' by @cryptokannon.

If you are one of those who don't read my introductory post which is the 'Achievement 1 Task' Post yet , Tap Here or tap the link below
https://steemit.com/hive-172186/@ansaf/achievement-1-or-my-introduction-to-steemit

Thank you for the reading ! 💙

CC:
@cryptokannon
@rishabh99946(Country Representative - India & Achievement 2 Verifier)
@kiwiscanfly(Achievement 2 Verifier)
@leveuf(Achievement 2 Verifier)
@rex-sumon & @edlili24 (The Curators for the Program)

Thank you!☺️

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 4 years ago 

What a nice entry to accomplish your achievement 2! Very well commented about security and all the functions of the keys, also great information on the steem economy, poor Zuckerberg, must come to learn something!!
I'll suggest for your future posts to also include some screenshots from your research along with your beautiful and creative designs!!
The best wishes for the projects!!

 4 years ago (edited)

That's a nice comment bro ! Thank you!💙

 4 years ago 

You have been upvoted by @leveuf and I’m voting with the Steemit Community Curator @steemcurator03 account to support the newcomers coming into steemit.


Follow @steemitblog for the latest update on Steem Community.

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