Achievement 2: Understanding & Demonstrating Basic Keys & security

Hello, I am Tarpan Paul, and It's already 4 days have passed since I have posted my introduction. Today in this post, I would like to share my thoughts about those Steem's keys.

_source
When I first sign up for my steem account from SteemHunt, I got a key. The website suggest me to store the key in offline.

Then the website asked for posting key to login. Like me anyone could be confused , where do he/she will get this posting key. Here, is the twist. A steemit account divided into two parts. One is handle all the financial functions (wallet) and the other handle all the social functions.

The financial part is Steemitwallet which require a higher level of security. The social part is basically Steemit.com or any Dapps ( i.e. steemhunt, TravelFeed) which security level is not as much as very big issue .

_{Steemitwallet}

_{Social part}

Depends on activity and limited set of permissions steem wallet provides these Keys: Posting Key, Active Key, Owner Key, Memo Key and Public Keys. Where Posting Key, Active Key & Owner Key are consider as private keys for Higher Level Permissions.

Any key can be compromised many ways i.e. an user can share with someone / any social media accidentally, some scammer can scam with a user or any website which user used is not is not legitimate.These different types of keys provides because if one key becomes compromised, the control of account will not gone to others hand.

All the action done in social part require this Private Posting Key. This key has limited by a number of set of permissions and it is not able to be used for financial actions. Cause it's the most frequently uses key. So if an user's posting key have compromised, there will not do any effect on account wallet.

Posting Key use to:

• Publish a post or comment
• Edit a post or comment
• Upvote or downvote
• Resteem content
• Follow people
• Mute accounts

Active key, the second most frequently used key and it is used for the wallet of Steem ecosystem. This key is needed when any steemitwallet holder perform any financial transaction and vote for witnesses. The transaction like transfers, sbd exchange, powering up and down,trading in the market, Claim rewards etc. This key should not be compromised. If an steemitwallet holder somehow compromises the key then there is huge probability to financial lose.

Active Key use to:

• Transfer tokens
• Power STEEM up or down
• SBD conversion
• Vote for witnesses
• Place an order on an exchange
• Certain profile changes
• Publish a Witness price feed
• Create a new user
• Claim rewards
  Here is a proof of transfer. That I have got from a contest.

This key don't have any significant used. May be future it will have a great role on the ecosystem. It can encrypt and decrypt private messages that are sent through the blockchain.

Here I have two different messages to different persons. One is send to @cmp2020 and the other is to @toufiq777

Memo Key use to:

• Send an encrypted message
• View an encrypted message

It's the most important key. It's required when an steemit account holder need to change the other keys or to recover user's account . This key is different from other keys, if you see it carefully. Because other keys derived from this master password .

" It is also called the “seed” because it is the first password that is created, and it is from that the rest of the keys spring forth. "

Owner Key use to:

• Reset Owner, Active, and Posting keys
• Recover your account
• Decline voting rights

Each Steem Key has a public and private key to encrypt and decrypt data. It's not required for login in the system. It's just associated with usernames. It is used to look up associated transactions on the blockchain and it's not necessary to store. From here you can was out every last transaction, latest blocks. To see you can watch from steemscan.

^source

From the graph, we can understand that, the key which most significantly important is less use in steem ecosystem. Although every is very important for an user. But the key which perform more in the system has less security. That's why different's keys have been produced for different functions.

Learning the Security - CMP2020 Explanation and Sample Post

Steem Basics: Understanding Private Keys

Keys and Security

^{Thanks @cmp2020 for giving this task}
_{Find me :}
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