Hi everyone!😃 trust our day is going on great! Because mine is!. So, here's my understanding on the Basic security on Steemit block chain platform.
HOW TO RETRIEVE ALL KEYS ON STEEMIT
MASTER PASSWORD
This helps you regain all the keys including the owner's key.The Master password is like an umbrella that oversees the others. It helps to generate all keys. The only instance you should use it is when going through account recovery.
OWNERS KEY
This is also a powerful key that helps you change other keys when need be but the master password is higher.
FUNCTIONS OF EACH KEY
The various keys in Steemit has different functions of operation. They include: posting key, active keys, owners key, and Memo key.
POSTING KEY
Posting as the word states, helps me POST majorly. It helps to comment, edit, vote, follow, mute other accounts and so on.
ACTIVE KEY
This key allow you to do all the transactions you need on Steemit. With this key, you are able to transfer funds, convert steem dollars, update files, place market orders etc.This is a Steemit business/transaction key.
OWNERS KEY
This help you change other keys when the need comes. It is a powerful kind of key.
MEMO
This key helps you to encrypt and decrypt memos when transferring funds. In encrypting memos, use the pound or # sign before the memo text.
Master Password
This helps to regain all keys including the owners key.
HOW TO PLAN AND KEEP MASTER PASSWORD
This is used to generate all the other keys including the owner key. You use the master password only when you are going through account recovery or to retrieve all other keys. The master password is the password you get when signing up. You should take this password to steemit.com wallet. Retrieve all the other keys and only use the keys appropriately.
HOW TO TRANSFER YOUR STEEM TOKEN TO ANOTHER STEEM USER ACCOUNT
ACTIVE KEYS
This key allows you to do transactions with others.With this key, you are able to transfer funds, convert steem dollars, update files, place market orders.I call this a business key.
HOW TO POWER UP STEEM
To power up effectively;
Click on the drop down box and scroll down and choose "power-up".
Next, you will be asked how much liquid steem you want to power up.
The red highlighted box shows how much liquid steem you have and the blue box is the amount you intend to power up. Click on the link you want, after a couple of seconds, it should show that your steem power has increased.
Finally, I'll say getting acquainted with this keys, helps the users account to be secure which is very crucial.