Achievement 2 @prashantkf Task : Basic Security on Steem

Hello Everyone!

After completing Achievement 1, here is my entry to the next task, "Basic Security on Steem"

It is very important to understand the functionality of the various keys involved. People may complain about the number of keys but we must also understand that it is not just an ordinary social media account, it also involves financial transactions and hence it involves additional security. Here each key has a separate function that helps to keep our account safe.

As requested, I have gone through the article by @kiwiscanfly on Understanding your Steemit Wallet, it was very insightful. It helped me clear my long-standing doubts.

Have you retrieved all your keys on Steemit ?

Yes, I have. All the private keys are with me.

Do you know each of these key functions and restrictions?

There are two major aspects of this platform;
1 Social
2 Financial

Private Posting Key is used to perform all the functions which include the social media part. Once you log in with your private posting key, you will be able to upvote, downvote, post content, edit content, re-steem and others. Basically, all the functions on steemit.com can be accesed through this key, the rest would be directed to steemwallet.com.

Private Active Key is used to perform all the functions related to financial aspect of the account. You will have to log in with your private active key to transfer funds, Power Up, Power Down, and Trade tokens on external or internal Market.

Private Memo Key will be used once the private messaging feature becomes active. So far public memo key is required while transferring funds to Steemit account from other exchanges.

** Private Owner Key** is used to reset all the keys. It has to be kept very safe.

Master Password is used to recover the whole account ( including the owner key).

self designed

How do you plan to keep your master password?
I have already stored the password offline at two-three different places.

Do you know how to transfer your Steem token to another Steem user account?
Yes!
As it involves the transfer of funds, it has to be done from steemwallet.com

Do you know how to power up your STEEM?
Yes!

This task has increased my understanding of the keys.

Link of the first achievement.

https://steemit.com/hive-172186/@prashantkf/achievement-01-india-introduction