Steemit Wallet: Passwords & Private Keys

in steemit •  6 months ago  (edited)

steemit_key.png

What happened?

So, as you probably already know, Steemit.com went ahead with their "condenser split", where the social and financial parts were put in separate applications, with the goal of being able to more easily improve the social application.

Steemit.com can now only be used to interact with the Steem blockchain in terms of social capabilities - posting, commenting, voting etc.

Steemitwallet.com on the other hand is for accessing the financial aspects of an account, in addition with witness-voting, updating profile-information & everything else where the private active-key is required.


Private Keys

And what is pretty clear after looking into the comment section of the announcement post, is that many people are having problems with their password AND/OR understanding what exactly those different private keys are.

In terms of explaining the private keys, the Keys & Permissions section on steemitwallet.com is pretty good, but if you're not yet logged in, you can check this post out: Steem Basics: Understanding Private Keys - Part 1

Now, if you're thinking that you don't really care about the different kind of private-keys and simply want to keep using your password, then let me tell you that this is a very bad idea.

Password

Essentially, your password gives someone complete access over your account (incl. the ability to change your password & recovery account), which isn't just a Facebook account, where "only" your data could be compromised, instead you could lose a hefty sum of money.

All 4 private keys can be generated/created through the password, which means that even if you "lose" your private active-key, you can simply "re-generate" it. (which is what happens behind-the-scenes if you click on reveal under keys & permissions)

That's why the password should be treated very cautiously. Best practice is to save the password in multiple offline locations (print it out) and never use it unless it is absolutely necessary. The last place you should ever want your password to be is inside the browser cache or in a simple text file on your computer.

So while I can fully understand the frustration some of you must feel of having to deal with learning about private keys & permissions, this is a crucial step in securing your account. You might "just" have 500 STEEM in your account right now, but what if STEEM were to reach 10$ again? Would you like to lose 5000$? I wouldn't.

Steemit.com & Steemitwallet.com Improvements

I do think that improvements can/should be made. And the best way for you to express what you'd like to see & where your problems are is to write a post about it. For example https://steemit.com/steemit/@deanliu/suggestions-to-the-new-steemit-com

Don't like the changes at all?

Last but not least, if you absolutely dislike the new changes and don't think you're able to adept, then you can use another frontend interface (like steempeak, busy, esteem, etc.): https://steemapps.com/type/interface


All right, I know that changes usually feel weird at first, simply due to the fact that we as humans prefer habits & familiar things.

But over time, these habits are going to there again. So keep your heads up!

Wolf

PS: For a more detailed explanation of the new changes & how to navigate the websites, check this post out from @llfarms.

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Think they really should have done it the other way around. We already trust steemit.com with our active key, keep that one as wallet site and make a new social.steemit.com that we only need to trust with our posting key. This way I fear it might open up a phishing hole.

For me, I like it- but there is one point which I didnt like: When I click on "Wallet" than I come to the new Steemit Wallet and LEAVING the normal Steemit site complete. Why not making it, to open in a new tab? Any reason? Maybe you know it?

I agree. That needs to be fixed. For now, you can simply right-click => open in new tab or press ctrl while clicking on it.

thankyou for putting this into layman's terms!!! I honestly really appreciate it cos for me its a headfuck!!!!! ... its not more about splitting the site so they can sell more adspace then??? I keep hearing about a downloadable pdf with keys, but i cant find a way to it. Any idea how i get to it??

Woww!!!! Amazing !!! That’s all I wanted, more safety and better management of accounts. Truly an evolvement. I’ll be strongly saving more steem by now, because I was feeling worried to be hacked here.

Posted using Partiko iOS

Thank you for throwing more light on this development, I think the condenser split is OK, thank you very much for sharing @therealwolf

Posted using Partiko iOS

For me I have always waited for this and I am glad its finally here.

All the people complaining just do not want to take a little time to read about the different keys types as explained in this post!!!

This statement of yours below just summarizes everything hehehe

All right, I know that changes usually feel weird at first, simply due to the fact that we as humans prefer habits & familiar things.

Thank you for the heads-up @therealwolf!
Have a good week!!!

Interesante

Posted using Partiko Android

This new thing work very good ... we just need time get used to.
But all codes and pages work same like all time... just when you go in wallet you need to know that wallet is now separate page.

Hi, @therealwolf!

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Hi there, i've got a question about smartsteem!

Do you think that in the referalls section there could be a table showing how much I have earned from my referalls? Would be a tidy little extra!

Changes are good and should be welcome.
A true steemian will mangé and grow with steem.
Keep on postin

Posted using Partiko iOS

Hi

Posted using Partiko iOS

If it's to secure our keys, I think the change is good. We always don't feel comfortable when something is new, but with time, we just got used to it. Thanks for your post about this topic and for everything you'r doing for steem blockchain, today I've reached the reputation 70 and I'm happy to inform you about that. Thanks for being in my journey, I still vote for you as a witness.

  ·  5 months ago Reveal Comment