Oh my 😱 it only feels like yesterday we were selected for the newbies initiative but here we are in the third week and submitting our third task.😊 honestly am the most happy person having the privilege to learn from great minds.
As always last weekend Sunday, was our third discord meeting and this time around we had the privilege to be mentored by the boss himself @vickoly. Sir vickoly took us through the journey on how to safeguard our Hive key which is apparently our treasure here on hive so in other not to be logged out of our account we must protect our keys. Not just that, he also stated the fact it is necessary to have a trustee account (recovery account) and it should be someone who we can easily access on the blockchain offline paraventure we no longer have access to our account.
So below are the questions for task three (3) attached with an answer for each.
Question 1: highlight the steps involved in changing the trustee account (recovery account)
Firstly a trustee account as the name implies should be someone that is accountable, meaning you trust them well enough to handover your keys should incase it get hacked. mind you a trustee account should be someone you have access to offline as earlier stated so as to easily call when something goes wrong. Now these are the necessary steps involved when changing trustee account using peakd dapp.
Click on your profile icon
locate the three dots shown like this ••• and click on it.
Select from the options "keys and permission"
Afterward click on recovery account. Clicking on recovery account is gonna show you who is your trustee depending on the frontend you used when setting your account.
Below there is an icon to change to your desired hive account and all you need do is to input his or her hive username and your owner key (private) afterward comfirm and you have successfully change your trustee account.
Question 2 vividly explain the functions of each of the keys.
When it comes to keys here on hive, they are our assets cause without keys then our account is of no value. There are basically five keys and I will be explaining each and every of it function.
*Active key
*Posting key
*Owner key
*Memo key
*Master key
Active key
This key is used when it comes to monetary operations that is whatever that has to do with finance the active key is used for a successful transaction example when converting hbd to hive active key is the right one to use.
Posting key
When it comes to social activities on the blockchain, the posting key is used to perform such function such as commenting, voting and posting . "Note this key can not be use for any monetary operation".
Owner key
In times of recovery an account or probably when one decides to change his or her other keys the owner key is required for such task.
Memo key
One of the major work of this key is to encrypt messages sent on hive and what do I mean by encrypt? It simply means to privatize a message meaning your messages sent are not public.
Master key
The master key is the boss of all keys which can be use to recover all other keys. Just like in our houses despite the fact each rooms has its own key there is a particular key called master key that can still access each rooms should incase anything goes wrong.
Question 3: what to do paraventure my active key was exposed
At this point in time, I think it's not advisable to go change keys as what hackers are after is the hive liquid so it is adviceable to first transfer all funds to the trustee account and after that try changing keys or alerting trustee to help with the necessary procedures.
Lastly with all this said and done it is very necessary to protect our Hive account, don't click on strange links as it is one of the means hackers use to gain access to accounts.
I am under the supervision of @eunice9200
Image 1 edited on canva
All other photos are mine
Thank you for your time, peace 🕊️