link: Steem Hard Fork 11: Recovery Authority

SIP - Recovery Authority @bytemaster, steem/steemit, GitHub

We are going to add a Recovery Account authority to every blockchain account. The default Recovery authority will be the account which created a new account (funding it with Steem Power). For most users this will be the website operator who registered the account. Mined accounts will have any active (top 19) witness as the recovery account authority until they change.

The side effect of this change is to make buying and selling Steem Power by transferring accounts much slower and much more complex.

With this change we believe we have created a system that is far more secure and usable than any that have gone before. It can significantly increase security without adding any extra levels of trust that did not exist before.