Achievement 2 Understanding basic Securities In Steem blockchain

Thanks to @cryptokannon and @steemcurator05 and all #steem-greet members for the privilege of writing to this community, thanks so much I appreciate.

For my 1^st entry achievement of the pro-minnow program, I would love to bring to your attention and enlighten your understanding on the steem security system.

Understanding the Basic Security In Steem Blockchain

Security in steemit blockchain is the most important and imperative thing to understand. Without the knowledge of the understanding how the security works on the system, one might lose his/her acquired token and it may be painful to such individual, so below i talked about the keys and its uses in as much as the blockchain is concerned.

Apparently, There are about five relevant security keys in Steemit blockchain which an be used for different activities on your account and is advised to be kept safe not be exposed, I think is better you safe them offline. Each of those keys has its roles and functions and this is where I focused on. Below is the listed keys and its functions in orderliness.

TYPES OF KEYS AND ITS FUNCTIONS

Posting key

The uses of this key is not that relevant, It does not require a higher level of security as it does not give official permission to any operations that is linked to the token in your wallet.

Functions:

1. Publish/edit a post or comment
2. Upvoting or downvoting
3. Resteem content
4. Follow people
5. Mute accounts

Active key

This key has to do with the financial aspect of your account. You need this key to access your wallet.

Functions:
1.Transfer tokens

1. Power STEEM up or down
2. Editing your profile
3. Vote for witnesses
4. Place an order on an exchange
5. SBD Conversion
6. Create a new user

Owner key

This is a great and powerful key. It can be used to change any other key of the account, including the owner key but but it cannot be used as master password. You're advised to store this password offline (external disk or flash drive or printed paper) and only use it to recover a compromised account.

Functions:

1. Reset Owner, Active, and Posting keys
2. Recover your account
3. Decline voting rights

Master Password

This is the most powerful password, it is used to unlock all keys for your account, even the owner key that was discussed above. When you sign up for steemit it is the first password that will be given to you to login and access your wallet. From your wallet you can locate the above mentioned keys. If your master password is exposed to any third party site or if someone sees it, they can steal your account and all of the tokens in it. So it is recommended you save this password offline also if you eventually loss it you cannot recover it and thereby losing access to your steem account. So please let it be kept safe.

Memo key

The memo key is not regularly used in the steem blockchain, for now it only has two purposes

Functions:

1. Send an encrypted private message
2. View an encrypted private message

Conclusion

Please Save your master password offline for it is the most powerful of all password. Only login into your account using the key with the appropriate permissions for what you are doing. If logging in with your posting key, make sure you don't overwrite it. Do not disclose your password or keys with any third party site except you are sure of that site, there are phishing site that has been created to steal peoples credentials, so take note of this, don't fall victim. Always remember, there is no way to recover your account if you lose your master password or owner key!, If your account is stolen you can only recover its ownership and not the funds.