Lessening STEEM Token(s) Withdrawal Attack Surface - Power User Standalone Wallet For Better Withdrawal Security by taoteh1221

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steem · @taoteh1221 · Jul 30 '16 (edited)

$0.65

Lessening STEEM Token(s) Withdrawal Attack Surface - Power User Standalone Wallet For Better Withdrawal Security

<img src="https://dragonfrugal.com/wp-content/uploads/2016/06/steem-2.png" />
Many people on the Steem network are acquiring larger and larger quantities of STEEM / STEEM Power / Steem Dollars, yet we all still have to rely on withdrawing assets to exchanges via an exposed web interface at steemit.com. This is a recipe for disaster! One hack of the website server is all it takes to capture ACTIVE / OWNER keys being used to sign in for withdrawals.

A wallet interface you can install behind a firewall on your home PC (like Bitcoin Core / Ethereum Mist) would greatly reduce victim numbers if a major server breach happens. You could then just login to steemit.com with your POSTING key (which only lets you vote and post articles / responses) and save using your ACTIVE key for the wallet on your PC. I realize this is not for newbies, but we have a lot of power users here...and newbies could get the hang of it after a few days if they really wanted to learn how it works, and securely withdrawal their $$$.

I do realize we already have steemd. I've tried for days to get a stable steemd command-line interface setup, and I have been doing command line for over a decade. At least let a node connect and be synced even if I'm not a witness or a miner, right? I got it to sync initially, but now it refuses even with a hole punched through my firewall for the p2p connection and tons of seed nodes loading properly in my config. Honestly it really sucks hard having to use a centralized web interface to transfer my $$$.

EDIT: Just realized even newbies could use a standalone wallet too, IF a light client was created. I'm sure @dan @ned and the gang have higher priorities now, but it's a good idea if ever it was feasible to prioritize. Maybe dev bounties like bitshares has might help? I don't know.

👍 taoteh1221, sirwinchester, thecryptofiend, fiveboringgames, dimitarj, jerome-colley, magnebit, phoenixmaid, willbeonceagain8, naturalista, litrbooh, alanc, adamgud, solar, ben99, miketr, azurejasper, shadowgem, bobbychan, cire81

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@alaynaspop · Aug 14 '16

Simply Great Information and Presentation

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@taoteh1221 · Aug 14 '16

Thanks! :-)

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@ben99 · Jul 30 '16

Not every body can do it bro, it's pretty easy for developers and advanced users but not for newbie

👍 ben99

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@taoteh1221 · Jul 30 '16

I realize that, but power users would appreciate the option for sure.

👍 ben99

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@ben99 · Jul 30 '16

$0.61

yeah I agree 100% bro, I really like your idea and how you think about security, newbies should learn how to secure their account too

👍 taoteh1221, ben99

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1 reply

@fiveboringgames · Jul 30 '16

$0.63

Would like to learn more about the dangers you mention could you point to a more indepth article?

👍 taoteh1221, fiveboringgames

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@taoteh1221 · Jul 30 '16

Sure, check out this post I made here regarding safely logging in to steemit.com, and doing a proper backup of your account too: https://steemit.com/steem/@taoteh1221/how-to-backup-and-secure-your-steem-account-so-you-don-t-regret-later-when-you-have-much-usdusdusdusd

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@isaac.asimov · Jul 30 '16

Flesch Kincaid Grade Level

Hi! This post has a <a href="https://en.wikipedia.org/wiki/Flesch%E2%80%93Kincaid_readability_tests">Flesch-Kincaid</a> grade level of 10.0 and reading ease of 68%. This puts the writing level on par with Michael Crichton and Mitt Romney.

👎 taoteh1221, steemservices, antispam, cheetah39

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@miketr · Jul 30 '16

Great Post I have send You a little SD Faucet
If you want a Faucet every Day? 
https://steemit.com/steem/@miketr/steemusdfaucet-get-up-to-1-maby-much-more-steemdollar-every-day

👍 kalimor
👎 taoteh1221

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@politicasan2 · Jul 31 '16

I think we does not need to worry  about that problem because steemit will recover and refund all steemit member account and money, as has already happened before.

Cheers

👍 politicasan2, alaynaspop

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@sirwinchester · Aug 11 '16

very interesting post, you really got me thinking. I think a sperate wallet on your PC with your active wallet key makes absolute sense. You should never put all your eggs in one basket, as we know!
And I'm sure people would provide the newbies with lots of great how-to tutorials, so they could manage to do it as well !

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@taoteh1221 · Aug 12 '16

Definitely , it would be way safer and newbies could figure it out with a little help.

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@steemzine · Aug 6 '16

Agreed good point! Thank you also for the love on our intropost - nice to meet you. Hope you like our next one! Following now.

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@taoteh1221 · Aug 7 '16

Your welcome, just followed you as well! :-)

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@taoteh1221 · Jul 30 '16

Wow, this article ---instantly--- got hit by spam bots replying, never seen this before. I hope @ned and @dan clean this $hit up, lol.

👍 jerome-colley

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@thecryptofiend · Jul 31 '16

$0.19

This is a valid point.  If people keep their STEEM as SP then it is less likely to happen (as they are more likely to catch someone powering down) and as has been pointed out the team will refund people but I still think this would be useful to enhance security.  Why wait for problems to happen when this could provide a solution to some of them.

👍 taoteh1221

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@willbeonceagain8 · Jul 30 '16

$0.22

Very good point , as were still in beat though we can expect there to be kinks to iron out. Steemit is improving at a steady pace so hopefully before long these issues will be addressed. good post , upvoted

👍 taoteh1221

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