Achievement 2 mentor by @cryptokannon : Basic Security on Steem
Hello Steemians,
Steemit is a great platform and as a newcomer I have learnt a lot in ashort span of time under the guidance of @cryptokannon. I got to learn about basic security and how to transfer tokens on steemit platform.
I'll now tell you about the keys and how they're used in the various places where they're needed, and then I'll answer the questions posed by the mentor @cryptokannon.
Q1 . Have you retrieved all your keys on steemit ?:
Yes, I was able to recover all of my keys shortly after establishing the account.
Q2 : Do you know each of these key functions and restrictions?
Yes, I do. There are many keys that have been given, each with its own set of permissions and functions.
POSTING KEY: This key is used to perform social networking tasks such as posting, tweeting, and voting. This key has a restricted set of permissions and cannot be used to conduct financial transactions, but it must be kept secure.
The following are things the Posting Key is allowed to do:
Accounts that are turned off
Make a post or a tweet.
Edit a comment or a message
Upvote or downvote
Resteem content
Follow people
Active Key
Additional permissions for more important monetary-related activities, such as transferring and exchanging tokens, are granted with this key.
You'll need an Active Key to:
To place an order on an exchange.
Certain profile modifications are made.
Tokens are transferred.
STEEM can be powered up or down.
Conversion of SBD
Vote for the presence of witnesses.
Owner Key:
To change the other keys, you'll need the owner key. This key has the ability to restore your account as well as change your other keys. It's the most crucial key, and it should be saved safely offline.
Permissions:
The Owner Key is used for the following purposes:
Reset the keys for Active and Posting.
Get your account back.
Reduce the number of people who can vote
Memo Key
The Memo Key is only used to encrypt and decrypt private messages sent over the blockchain, and it isn't used very much.
Make use of your Memo Key to do the following:
Send a message that is encrypted
View a message that has been encrypted
Q3 : How I plan to keep my master password:
I had to save it as a Microsoft Word document in my account, where it could be retrieved at any time, even if my phone was lost.
Q4 : Do you know how to transfer your steem token to another steem user account?
Yes, I do, by exploring @kiwiscanfly's tutorial on understanding your steemit wallet, I was able to accomplish this.
Q5 : Do you know how to power up your STEEM?
Yes, I do, the lesson has been extremely beneficial in teaching me that steem is in a liquid state and can be powered up to continue building steem capacity.
A very big thankyou to @cryptokannon @kiwiscanfly for providing so much knowledge to the newcomers.