My achievement post2//The achievement 2// blockchain's security on steemit

Hello steemians welcome to my post today. In response to the achievement task, I will be fulfilling my achievement task 2 being basic understanding on steemit's security system. Read on to see what I have here.

It is recommended that every system, organization and any financial services should secure their projects because any key or password is liable to be compromised, so it is in this blockchain. Every account has its own passcode which is the most vital thing.

If you eventually compromise or disclose it to any third party website, then you will have to have it in mind that your acquired tokens (STEEM, SBD, & SP) will be stolen and you will have yourself to be blamed.

Source

Steemit platforms has 4 different passwords that is been used on different operations. Below I will explain how they work.

Posting key:

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This is the first key, though there's this other one that is been used to access your steem wallet, it is the "Master key" it is used to view your posting key and other keys in your wallet, you're advised to store it carefully, ideally offline. Now let's talk about the posting key.

Posting key is the key that allows you to carry out activities like: Posting, commenting and voting. If you're thinking that you can use this key for monetary actions, then you are making a mistake. This keys also allows you to login to steem related platforms like partico and steemit itself.

Functions of Posting key.

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• It is used to publish post and also commenting.
• Editing post and comments
• you can also use it to upvote and down vote other publications
• You can also use it follow other account
• Muting of post.

The abovementioned are the list of task that posting key can carry out. Now let's talk about the next key.

Active key:

Active key is another important key. Its allows you to perform monetary related actions on your wallet. It is very important among all other keys because its the gate to your tokens. If lost it can't be retrieved. Yo are advised to keep it save.

Functions of active key

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* Transfering of tokens to other account * Used to power up or powerdown steem * it is also used to place other in the steem internal market * Vote for witnesses.

Owner Key:

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Owner key has great potential to the other keys. With owner key, you can request for another posting and active keys. You can also use this key to recover your lost account. Check its vital roles below.

Function of Owner key.

• It is used to reset Active and posting keys
• You can use it to recover your account
• You can also use this key to decline voting rights.

Memo key:

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This key for now is not relevant, it is used for decrypting and encrypting Private messages. Its functions are just to decrypt and encrypt messages around the blockchain.

Question 1

Have you retrieve all your keys on steemit? Yes, I retrieved it the first day I joined the platform.

Question 2

Do you know each of these key functions and restrictions? After studying the four of them I could now affirm that I know their functions and how they work.

Question 3

How do you plan to keep your master password? Like I have said, it is better you save your keys offline either writing it on a paper or saving it in a flash drive, but for me I choose to write and store it safely on a paper.

Question 4

Do you know how to transfer your steem token to another steem user account? This is a very good question, on this aspect, I have learnt how to transfer steem token to another account. Let me show you below.

first step
Visit your steemwallet and click on any of the token that you want to transfer, it can be SBD or Liquid Steem. Once clicked a drop down menu that has:

• Transfer
• Transfer to savings
• Market
• Buy
• Sell
• Power up.

Click on transfer and the next step is shown below.

Compare the image below.

second step
Once you click the transfer a page will popup then there you will fill out the details which are:

• The recipient name and
• The amount

Then click on send, you will be asked to put your password to finalize the transaction. Remember to put your active key. See image below.

Question 5

Do you know how to power up your STEEM? Yes! I took time to study my wallet and all it comprise, see how to power up below.

First you will visit your wallet like the previous procedure. Click on transfer and the drop down menu will show, now click on power up, once clicked you will be taken to a page where you will be asked to input the number of steem you wish to power up. Compare the images below.

As you can see from the image, you will input the amount of liquis steem that you want to power up, after that you can now click on power up button and it will power up. Thanks for reading, this is in fulfilment to my achivement 2 task.