Welcome, Kabayan! Congratulations and you finally made it here! You either got invited by someone you know here or you just stumbled yourself out of curiosity about cryptocurrencies. Well, you just made the right choice of creating a Hive account for your content and to earn your first Hive tokens and I wish you well on that journey.
As you already know about the platform, Hive is not just about blogging that rewards you with cryptocurrencies, it is also an avenue of multiple faucets of opportunities to earn cryptocurrencies the easy way to the most complicated way. So before you start, let me give you some guidance that will help you understand the basics of the Hive blockchain.
In this guide, I will discuss the passwords involved in your hive account, its roles in the blockchain, and how important are those as part of your blogging journey.
Here we go!
This is your account!
Account sample taken from hiveonboard( a tool for creating a hive account)
@Account name is your unique profile name. It is also considered as your unique wallet name where anyone can use it to send you some hive tokens.
Password on Hive must be treated well with utmost security like the ones you have on any other social media, personal emails, applications online, and many more. But what makes Hive unique is that you cannot make your own password rather the Hive blockchain itself generates a long and complicated password for your account.
You must secure your password at your own convenience and never ever use it to log in. The role of the password is to change all other private keys you have on your account if ever your private keys were compromised. Changing your password requires you to have your password. So if the main password was compromised or changed by someone, you should still have your original password so that you can process the recovery. See this post for in-depth explanation about account recovery.
Please DO NOTE!
If your password was changed by someone, and you lose your password then you have lost your authority to your account permanently.
If your password was changed by someone but you still have your original password then you can perform account recovery but only within 30-days after the password was changed.
Private Keys are alternative password which has specific roles in the Hive blockchain. They're used to sign some specific transactions of your account on the platform. Treat them also with the care similar to your Password.
There are 3 Private Keys on your account as reflected in the photo above which has the following roles:
Posting Key - Use it to sign transactions like posting content, commenting, upvoting other content, reblogging content, follow other accounts, and claim rewards.
Active Key - Use it to sign transactions like sending hive tokens, hive dollars, powering up, powering down, delegating hive power to other users, and depositing/withdrawing your tokens to/from your savings.
Owner Key - Use it in changing a specific private key and changing your account recovery.
Memo Key - Use it to encrypt/decrypt memos in your wallet. You can send encrypted messages inside the blockchain via sending tokens to other accounts with the memo as the message. Use the memo key to sign the operation.
Public Keys - Nothing to worry about these keys as they're publicly visible in the hive blockchain. Similar to private keys, they're also unique which identifies an account signing a specific operation inside the blockchain.
Make sure your password is secure, use your keys according to what their purpose is for. But most importantly, have fun blogging!
Thank you for taking the time to read our Hive PH Tip of the Week. Please do stick around for more information about Hive and how it works.
If you haven't yet, please subscribe to the Hive PH Community to help with the curation and post promotion.
Don't forget to follow Hive PH trail on hive.vote as well.
Chat and interact with our fellow Filipinos in our discord channel.
Thank you and see you again on our next Curation Post!