Achievement 02 - Basic Security on Steemit - Ireshach

Hello Steemians,

Hope you all stay safe during this Covid Pandemic 😷 ♥️

This is my 2nd achievement and based on the knowledge I got so far, I would like to talk about basic security that available in the steemit which will really helpful for the new comers to survive and sustain in this platform in long term.

Initially I would like to thanks @cryptokannon & @sithara who posted clear and informative article about the security and it was very helpful to get clear understanding on the area of basic security. 🙏🏻

Since steemit is having a high security platform it is not easy to hack or do other malfunctions on the platform very easily. Person who is trying to do so have to go through so many processes and functions to steal the keys. However it’s better to keep all the details regarding the keys in another hard device or soft device to more protection.

Source

There are 5 keys which are vary to each in the steemit platform and usage of those 5 are different to each. For further explanation on achievement 2 Q & A session is used and there consists 5 questions to answer.

Question-01

Have you retrieved all your keys on steemit?

Yes, of course. I have retrieved all the keys provided by the steemit once I created the account and I downloaded the PDF and it kept at secured place. After downloaded it I thoroughly went through that and got the understanding about each key.

Question 2

Do you know each of these key functions and restrictions?

Based on the idea which has taken from the article there are 5 keys which will vary based on the power and accessibility to the steemit account.

Those are :

1. Posting key

This is the basic key that allows to daily logging and basic functions and there is no authority to do any transactions with your wallet.

Usage of the key -

Create posts, vote, comment, edit, delete, view other’s post, explore communities, resteem

1. Active key

This is the key that gives access to the wallet to do financial transactions. This is very important and it should be saved very confidentially.

Usage of the key -

Trade, transfer currency with another user, conversion of SBD to place an order, power up & down, editing & updating profile, vote for witness

1. Memo key

This will read when you make a memo on the blockchain.

Usage of the key -

encrypt and decrypt of the memos in a blockchain

1. Owner key

This is the most important and the most powerful key and it should be used when there is necessity.

Usage of the key -

Can change any other key in the account

1. Master key

This is the main key that should use to generate the collection of keys and it should not be handed over to anyone. If someone has received this key, they can collect all other keys without your permission and you will lose your account.

Usage of the key -

Access to wallet, to retrieve all the keys, account recovery

Question 3

How do you plan to keep your master password?

Since it is important and confidential, I have save it in hidden folder in my laptop, in mobile phone folder with password and took the printout and kept it in secret place. 🤩 I used to save it in 3 places not to replace and I can get it from at least from at one point.

Question 4

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

It can be done from 7 steps mentioned in the below and it clearly shows by examples.

Step 1 - Log in to your wallet by using Active key for password.

Step 2 - Select the STEEM or SBD token to transfer.

Step 3 - Go to transfer

Step 4 - Select the user and enter the amount that you need to transfer.

Step 5 - Add a memo if you need a clarification

Step 6 - Then select next

Step 7 - After the confirmation of transferring details select ok

Question 5

Do you know how to power up your STEEM?

Different between transfer of funds and power up is in the drop down you have to select option called power up. And the steps are as follows.

Step 1 - Log in to your wallet using Active key

Step 2 - Select steem and go to power up

Step 3 - Enter the amount that you decided to power up.

Step 4 - Click on power up

Step 5 - Add a memo if you need and click on OK.

At the end, I have given brief explanation about the basic security on steemit. Hope it will helpful to you all.

Thanks and Best Regards,
♥️