Achievement 2: Basic Security on Steem by @waihin

Hello Steemit Community,

After successfully completing my Achievement 1 introduction post, I am glad to present my Achievement 2 post focusing on the basic security of Steemit keys. Security is the foundation of any blockchain platform, and understanding how to manage Steemit keys properly is essential to keeping my account safe.
Below are my answers to the security questions outlined in the Achievement 2 guidelines.

1. Have you retrieved all your keys on Steemit?

Yes, right after creating my Steemit account, I downloaded the Master Password and the PDF document containing all my private keys. I have reviewed each key type to understand their specific permissions.

2. Do you know each of these key functions and restrictions?

Indeed, I have understood the specific functions and limitations of the below-mentioned important types:

(a) Posting Key: It is used for daily actions like posting activities- commenting, upvoting, downvoting, reblogging, and following the users or muting them. It cannot be used to transfer funds or change account passwords.

(b) Active Key: Designed for financial and sensitive transactions. It is used to transfer funds, power up/down STEEM, place orders on the internal market, and convert Steem Dollars.

(c) Owner Key: The most powerful key on Steemit. It is used to change any key of the account, including the Owner Key itself. It can also be used to recover a compromised account within 30 days.

(d) Memo Key: Used specifically for encrypting and decrypting private memos sent alongside transfers.

(e) The master password is an important component, which is produced in the course of the sign-up. It is capable of generating or resetting any other passwords, and thus it is essential to maintain its confidentiality.

3. Have you thought of the ways of preserving your master password?

To assure maximum safety and to avoid unauthorised access/loss:

(a) I have saved my Master Password and Private Keys on an external memory device.

(b) I have jotted down my passwords in a journal.

(c) I do not distribute my passwords and do not type them in unfamiliar websites.

(d) I use my Posting Key for logins.

4. Were you able to get the STEEM token transferred to another user?

Yes, I am familiar with performing the transfer in the Steemit Wallet through the following steps:

(a) Access the Steemit Wallet and log in with the Active Key.

(b) Choose Transfer from the drop-down menu beside your STEEM balance.

(c) Input the receiver’s username (such as @username) and the sum of tokens that you intend to transfer.

(d) Add a Memo if required.

(e) Click Next, review the transaction details, and confirm with the Active Key.

5. Do you know how to power up your STEEM?

Yes, converting STEEM into STEEM Power (Powering Up) increases voting influence and account reputation. The steps are:

(a) Open Steemit Wallet.

(b) Click on the drop-down menu next to the STEEM balance.

(c) Select Power Up.

(d) Enter the amount of STEEM to convert into STEEM Power.

(e) Click Power Up and confirm the transaction using the Active Key.

Conclusion

Understanding these security protocols gives me confidence to interact safely on the Steem blockchain. I am committed to keeping my account secure and looking forward to progressing further in the Newcomers' Community.

Thank you for reading my post!

Best regards,

@waihin