User's guide to different keys on the Steem Ecosystem

One of the cryptic aspect of the steem blockchain is that there are five different keys (four main keys). These keys are multiple strings of characters that a user needs to remember to login into a steem account. Each and every account has a unique set of keys that is attributed to it, this keys gives permissions to users who is using a particular account.

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This keys includes;
** posting key
** Active key
** Owner key
** Memo key

POSTING KEYS
A posting key gives a user the permission of writing a post, commenting, voting, and following other accounts. This key would not give the user access to move funds or engage in any internal market trade on the steemit platform. This key should be the users most used key as it’s more likely for a password to get compromised due to excessive use.

ACTIVE KEYS
The active key is used for more sensitive tasks and financial purposes such as;
• transferring Steem or SBD out of your account
• transferring Steem or SBD into your savings
• placing orders on the internal market
• , updating account/profile details and settings (such as an avatar, location, bio, profile picture)
• powering up, or powering down transactions
It can also perform all other functions of the posting keys. The only time you should ever use your active key is whenever you want to make a transaction.

OWNER KEYS
The owner key is the most powerful key besides the master password as it gives full control over your account and all other keys, it has the master power. Its permissions include;
• all that the posting key can do (post, comment, vote)
• all that the active key can do (transfer funds, vote for witnesses, change settings)
• Master Power: change every other key, including the owner key itself
The owner key should be used only when necessary and should be written down and locked in cold storage.
NOTE: owner key cannot be used to decrypt private messages/memos.

MEMO KEYS
The memo key is the only key that can decrypt private messages sent and received from your steem account, this feature has not been implemented yet. It is also used to create and read memos.

SIGNING KEY
This is a secret key that is used by witnesses to sign blocks, and it’s gotten when a witness server is being set up using the active key or owner key.

PERMISSIONS\KEYS	Posting	Active	Owner	Memo
Post, Comment, Vote, Follow	✓	✓	✓	✘
Transfer Funds	✘	✓	✓	✘
Initiate Market Trades	✘	✓	✓	✘
Change Permission Keys	✘	✘	✓	✘
Vote For Witness	✘	✓	✓	✘
Power Down/Up	✘	✓	✓	✘
Change the ''Owner Key''	✘	✘	✓	✘
View Encrypted Private Messages	✘	✘	✘	✓
Create and Read Memo	✘	✘	✘	✓