Image designed by me using Canva.
We have things we look at and consider before we make investments and certainly, security is on top of the list. For me, if you pitch an idea to me the first thing I would have to ask you is “how secure is it”. Let’s face it, making billions in seconds when you’re not secure is not worth it at all.
What’s the importance of making approximately $100 on every post you make when it doesn’t have the best security. There are some platforms or ventures that at a first glance, you know in your heart and mind they are not secure and they are most definitely not secure. Others need a bit more research for you to draw your conclusion.
When I was signing up for hive, security was one key factor I considered. I didn’t want to invest my time into something that can be taken away easily.
Hive being a blockchain is protected by cryptography. This is a way of securing information where encryption and decryption is involved. Encryption in the sense that the sender codes or protects the message and the receiver decrypts or is able to read the message with the help of a key.
Cryptography is very necessary for blockchains because the entirety of blockchains is built on the concept and importance of cryptography. Only the receiver can read the incoming message which is very good and could be used in several fields.
In hive the asymmetric form of key cryptography is used. You know how we have the public and private keys, that’s what it is. The public body is used to encrypt the information and the private key is used to decryption. I think everyone here understands what private and public keys are. Right?😀
The keys are derived by the system which are made of a combination of caps, small letters, and numbers. They are so long that it is believed that when you are able to cramp your keys, it is no longer safe and you should change them.
The blockchain can do what it can to help protect you but it doesn’t have to stop there. You can take the next step by deciding on where to store your keys. The choice of keeping your keeps offline or online depends on what you like although most believe it’s safer to save your keys offline.
It’s important you do not click on links you do not trust as some of them are phishing sites that gain access to your keys once you do that. We shouldn’t always save our keys in sites but can strive to always copy and paste the keys.
In all, I guess what I am saying is that I regard blockchain security in high regard and I advice that we should all be careful with how we handle our wallets and keys.