Achievement 2 @sandu Task: Basic Security on Steem

After the introduction on myself to the Steemit, I'm going to achieve my second task here. It is all about security.

So first, I had to read some articles as a guidance for this work. With the help of my friend @randulakoralage, I got to know about two better post that could help me with this task. The first one was from @cryptokannon and it was a really useful post. The second post is from @kiwiscanfly on Understanding Steemit wallet.

So, with the help of them, I'm here completing my second task. 😊

At the very beginning, yes I retrieve all my keys on Steemit. I could find all my keys in the wallet under keys and permissions after entering my activation key. There I could see all my keys: posting key, active key, owner key and memo key.

After searching and reading some posts, I got to know each of these key functions and restrictions. As a summary;

I can use my Posting Key to publish a post or comment, edit a post or comment, upvote or downvote, resteem content, follow people and to mute accounts. So, our normal actions can be fulfilled using this key.

Then the Active Key permissions to transfer tokens, power STEEM up or down, SBD conversion, vote for witnesses, place an order on an exchange, certain profile changes, publish a Witness price feed and to create a new user.

When we consider Owner Key, this is the most important key here. we can use our Owner Key to reset Owner, Active, and Posting keys, to recover my account and decline voting rights.

The memo key is not commonly used currently but may be important in future. The only thing the Memo Key can do is encrypt and decrypt private messages that are sent through the blockchain.

Master Password is used to generate all the other keys, including the Owner Key. So, yes. We should pay a huge attention to safely store this key somewhere offline like a external hard disk. I also got a printed copy of it using my personal printer other than saving a offline copy.

Yes I know how to transfer my steem token to another steem user account. But I haven't tried it yet, ohter than reading about it. So all I know is just theories, not the practical part. 🤔 Under activation key, it says that we need this key to transfer tokens between accounts.

To get to know about how to power up my STEEM, the second post that I have mentioned in the beginning gave a massive support.

STEEMs, that are in liquid form can be used for power ups. we can find this is the wallet under Balances. Though I haven't tried this practically, I think I have a good understanding on this after reading posts. Hope, I can try this in the near future if I'm lucky enough.

I think that I have included all the necessary details for the Achievement 2. So, I'm going to finish my second post. Thank you very much @cryptokannon for this challenge as it enhance my knowledge on this topic.