Achievement 2 @nxzeehx | Task : Basic Security on Steem
Assalamu Alikum and Hello;
"Steemit" is a social media platform, powered by Steem blockchain and Steem cryptocurrency. It rewards it's users for their work in the form of STEEM/SBD (digital currency) and it is what makes Steemit different from other platforms.
Keys
A key is very important when unlocking a lock, likewise the whole network of Steemit operates on the keys that function as passwords. As a blockchain ecosystem with cryptocurrency, this network secures itself with this technique of holding keys, which are given to each user as soon as they sign up. Every account has multiple keys, each of which holds different power. Master password, owner key, memo key, active key, and posting key are some of the keys.
Posting key, is necessary in account login and to carry out all social basic activities including posting, commenting, editing, and voting.
Active key, is a important key this is essential when doing a task with the digital currency, transferring funds, placing market orders , editing profile, converting Steem to Steem dollars.
Owner key, controls all the keys on Steemit, this key is important for the recovery procedure because is used to change all the other keys as well.
Memo key, for Encrypting and Descripting memos when transferring funds (currently not used).
Master Password
Master password derives all the keys for account, including the owner key. Master Password isn’t a key It’s called Master password since all keys are derived from this single password.
One can take your account if they get access to this password. Thereby, I kept it secure with a copy on my phone, on my laptop in google drive, even wrote it down on paper for further safety. Unlike other websites, there is no way to recover lost accounts on Steem ecosystem hence, it is extremely important to save and backup your password.
Users should always be careful when signing into any site that requests any of their private keys. source
Transferring Steem Tokens to Another Steem Account
We can share funds with our friends to help them. I've observed that many contest rewards (Steem/SBD) are awarded through account transfer.
- On the wallet page, click the "down arrow" that can be visualized next to Steem or Steem Dollar balance.
- In the box that appears, find and click "transfer",
- Enter the "Username" of the account you are sending Steem or Steem Dollar to (check spelling)
- Enter the "Amount" to transfer,
- Enter a "Memo" (note) to company the transition (optional).
- Click "Next",
- A bar appears allowing to recheck the data entered, click "Ok".
- Drop your "Password" (master password or active key),
- Click "Submit" (I'll click Signup and re-enter my posting/active key ).
Powering up Steem
Money earned on Steemit is Steem or SBD(Steem backed dollars). Steem Power is simply when you power up (turn on) your Steem/SBD. Powering up Steem increases accounts value (helps it grow), Increases Upvote value, Steem Power also allows to help your favorite community grow.
- On wallet page, click "Down arrow" present next to Steem or Steem Dollar,
- Select "Power up".
- Write the "Amount", you want to power up in the bar (total sum is given by name Balance, just below the bar),
- Click "Power up".
- Enter the required key, "Password" (Active key, Owner key, or Master Password can be given).
- "Submit" (I'll click Signup and re-enter my posting/active key ).
- With is few minutes the amount can be seen in Steem Power column.
Summing up, the Steemit network allows you to own a set of keys, all having their collective functions. The strongest key called the Master Password, is fully accessed to change all the keys. Powering up your Steem increases accounts value and one can Transfer steem to other account, both Powerup and Transferring funds requires simple steps.
Guide:
- Achievement 2: basic security on steemit
- what are my different keys for
- Steem Basics: Understanding Private Keys (posting key and master password)
- Understanding your Steemit wallet & Powering up
cc: @inspiracion
Thankyou
JazakAllah
Nazeeha achiev.1
Hello, it is a pleasure to greet you and inform you that your achievement 2 has been successfully verified, i encourage you to continue with achievement 3 for the Newcomers' Community and thus continue to advance and reach achievement 4 to be eligible for steemit crypto academy.
The title of your publication should be: "Achieved 3 by @yourusername - Assignment: Content Protocol"
Remember to use the appropriate tags for the following achievement, #achievement3 and #venezuela, please do not forget at the end of the post to place the phrase:
"I have read and understood the Steemit Etiquette on Steemit Community and will do my best to embrace them."
It is important that you know and be part of the #club5050, for this you must maintain during each month a balance when turning on (POWER UP) no less than 50% of your withdrawals and transfers, in this way you will be contributing to the platform and you can be considered for have the support of the steemit team, learn more here
Greetings 👍
Noted, Thankyou.
Hi, @nxzeehx,
Your post has been supported by @wilmer1988 from the Steem Greeter Team.