Hello hive learners, in today's post am going to talk about the hive private keys and it's uses here on hive.
The platform provides four private keys and these keys have different security purposes, meaning that you need a particular key to access a specific field.
The five permission keys are;
- Owner key
- Active key
- Posting key
- Memo key
The most important of all the five keys is the owner keys. Below is an explanation of the functions of the different keys starting from the first key (Owner key, being the most important key here on hive).
OWNER KEY: This key is regarded as the most important key. It is required to change the other keys. The key has additional permission to recover your account.
ACTIVE KEY: This is a very sensitive key. The key is required for money-related actions like transferring and exchanging tokens, powering up/down, and voting for witnesses/proposals. When performing money-related actions, one may need to authenticate with the active keys.
It is very important and necessary that this key is stored safely to avoid losing tokens in the future. It should not be entered in untrusted apps.
POSTING KEY: It is used for social networking actions like posting, commenting, re-blog, follow, and voting. I consider this as the least important/sensitive key as one can't lose money if someone else gets access to this key. The key has a limited set of permissions.
MEMO KEY: The memo key can only decrypt and encrypt private messages sent through the blockchain.
For our hive learners, please I advise you to be careful the sites you post you private keys especially your ownership and active keys, to avoid lost of token or being hacked.