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RE: [Steem] How to change your Masterkey and why.
Thanks for creating this great guide!
A problem with this memo key is, that if you change your master key, which would also change all other keys, your old encrypted memos would not be readable anymore.
I've thought about this recently and I came to the conclusion that it would be best to have a possibility to change the memo key (maybe also in the Account Auths tool). In this way one could change the master key of his account and after that change the memo key back to the old one, so that old encrypted messages can still be read.
Small typo in your text:
as it is divided into a master key, owner key, active key, posting key, and memo
ry
Thanks! Changed the typo. A change only of the memo key would be something that could help. But as far as I know the memo key is also used to transfer Steem, which would mean that it would be not secure if you keep your old memo key. :)
I'm not sure how exactly the different frontends handle the encryption process. It could be that they use the active key also for encrypting the memo, which may not be the best solution.
On SteemWorld I always use the memo key to encrypt the memo field prior to signing the transaction with the active key... :)
Using the memo key is definitely not really easy for outsiders. Will check the memo function on Steemworld. Maybe I will finally be successful sending encrypted memos :)
Just did. it works perfectly. Thanks for your great tool~!
Yes, I agree that it is more comfortable for outsiders to make it all with only one key and this will be the reason why some frontends solved it in this way.
Your transfer came in and I can read the encrypted message using my memo key :)