Different types of Keys in steemit and Their Functions
Hello Everyone
I hope that all the friends will be fine and live a comfortable life. And will be enjoying own life.Today I want to tell about the Different types of Keys and Their Functions in Steemit. It's a aslo achievement2 in newcomers community which name is "BASIC SECURITY ON STEEMIT".
I know some friends know about it and some don't . So now They can know Who do not know.
Let's start
Keys of steemit
STEEMIT have a different types of keys / passwords and each of these is associated with an account.
Each has a different function which is as follows
1: POSTING KEY
It's keys of Steemit. Following their functions.
- Posting Key used by us to login account at steemit.
- This key allows accounts to post, comment, vote and follow other accounts.Then all the other interesting users can follow and write comments on their posts through their STEEMIT PROFILE.
- The posting key will prohibit any third party from transferring any funds from your account, such as transferring any assets from your wallet or engaging in interval market trading.
2: ACTIVE KEY
It's keys of Steemit. Following their functions.
- It is used for monetary and wallet related actions, such as transferring tokens or powering STEEM up and down. converting Steem Dollars.
- User can also transfer, trade the internal Market, move & control Funds and Vote for Witnesses.
3: OWNER KEY
IIt is a very important key apart from your master password. You have full control over your steem account.The owner key is only meant for use when necessary. It is the most powerful key Because it can change any account key, including the owner's..
- With the Owner Key you can transfer any funds in your Account
4: MEMO KEY
It's keys of Steemit. Following their functions.
- Memo key is the only key is specifically used for Private Messaging,
- This key is used for encrypting and decrypting memos when transferring funds.
- it is also used to encrypt and decrypt private messages sent & received via your Steemit account.
5: PUBLIC KEY
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Public key are associated with usernames and are used to encrypt and verify messages. these are not required for login
STEEMIT WALLET
This is almost similar to the traditional cryptocurrency wallets
- we are used to, we can send, receive or store steem in it, but it is different because it includes a new concept of having 3 sub-wallets all tied to stem
i ) Steem wallet
- For the native coin
ii) Sp wallet
- to store steem power
iii) SBD wallet
- For the steem based dollar
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