Steem multi-authority permissions and how Active authority works, Part 2

in #steem3 years ago

Few weeks ago I have talked about how multi-authority works on Steem post, let's call it Part 1 since these two posts are closely related. First part was about posting authority which helps one account to give permission to other for posting and voting. In this post, I want to dive deeper to give some practical use cases of active authority and private key permissions. This features are advanced but with right use cases there can be quite great applications on top of Steem.

What's multi-authority

Analogy I have used in past post is:

You can share any of the permissions with other accounts on Steem.
Just like, you can rent out room in your house or have more than one passcode to access safe/vault or joint ownership of property/house...

First post also gives you small example how to add/give permission to other account so that you can have joint vault/business account.

steem.api.getAccounts([accountname], function(err, response){
     if (response) {
       var account = response[0];
       var activeAuth = account.active;

       //adding permission
       activeAuth.account_auths.push(['youraccount', activeAuth.weight_threshold]);

       steem.broadcast.accountUpdate(wif, accountname, undefined, activeAuth, undefined, 
            undefined, account.json_metadata, function(err, result) {
         // youraccount got active authority for accountname
       });
     }
});

Now let us take a look what can be done with active authority. As you may know, active authority gives ability to transfer funds, change/update account data, give access to other accounts by adding them to specific authority etc. So you have to be absolutely certain before doing any of these actions, that you trust a person you are adding.

Use of active authority

Using authority is just matter of creating transaction on behalf of other account. Steem already recognizes who is performing action and if they have authority to do so.

transfer operations (powerup, power down), escrow operations (release, transfer, approve), account_update operations (account metadata, permissions, etc.) are possible with active authority.

var operations_array = [
    ['transfer', {
                        from: "accountname",
                        to: "good-karma",
                        amount: "0.001 SBD",
                        memo: ""
         }]
]
//wif is private active key for youraccount

steem.broadcast.send({ operations: operations_array, extensions: [] }, 
             { active: wif }, function(err, res) {
    //youraccount transfer fund on behalf of accountname account.
});

Note: above transaction is being created and broadcasted by youraccount but funds transferred from accountname, pretty cool huh...

Another use case:

One of the common practice nowadays is to lend/delegate SP to another account, above same technique can be used to create market around it with minimum 3rd party trust. All your funds stay in your account. You can use/create automated system where you can lease for certain period of time and system can take care of payments and release of delegations (notify clients). Even better, you can use multi-signature feature to establish 100% trust where clients will have to confirm, approve transactions.

Active permissions and authority should be used with utmost care, you don't want to loose your funds. It is really not easy to hack Steem accounts, let alone take control over it. But without careful use (revealing private keys) loosing liquid funds are not that difficult and it takes only couple seconds to do that, keeping most value powered up always helps...

That's how active authority works in a nutshell!

Before you give permission and authority to any other accounts, beware or make sure you trust them.

Sharing authority is safest and convenient way, rather than sharing your private key directly to a friend, colleague, family, etc. Always know how your private keys are being used and who has access to them. Use them with caution!

Steem on!


vote witness good-karma

Sort:  

What I like about @good-karma the most is he's passionate on how the steem blockchain works. I'm truly sorry I haven't been around as much as I have @good-karma but I have a reason for it

...but what makes me especially happy is that in my absence, I can come back to your blog, and see these types of quality posts. Formatted code, with an explanation, and a full view into what you think and transparency into what you do..

You're an amazing fellow. You've never let me down. I continue to be impressed by your work, as well as you.

Shh... don't tell anyone... But Dan Larimer and @good-karma are similar.

They put their life energy into code for the betterment of people they don't even know. It's incredible... moreso.. they are incredible people. It's not just fluff. I come by this rarely. I've seen it only twice in my life and Linus Torvalds is not included in it.

So weird, and strange... but I am happy my statements are forever encoded on the blockchain, because I mean it.

Whew! It feels good saying it.

Thank you brother! Glad to see your comment and honored, humbled by all your compliments! We all do our parts to improve lives... Steem community is truly amazing, look at all these souls empowering one another, isn't that great?! Appreciate your being here :)

Extreme useful information to deseminate. Thankfully, only my spouse has access to any vital info of mine, both off and online. Keep the information flowing buddy! I appreciate it.

Thanks for posting great content! I have to admit as a new Steemian the learning curve has been a little steep but with content like this and other tutorials from other authors it had made it easier. Thanks

This post received a 3.8% upvote from @randowhale thanks to @feruz! For more information, click here!

Thanks for sharing, @good-karma!)

@good-karma thanks for explaining !
resteemed for the sake of me friends :)

Thank you for sharing this great information! I Appreciate it

Be Good :)

Very good information for steemit users, with this kind of information steemit users more easily memahi how to transfer steem from this account to another account, thanks information @good-karma

Thanks for sharing!

Upon reading your post, I just recall streemian.com required my password and username to unlock my account. Do you think that's safe and it never save in one remote server?

Afaik, streemian only uses your password to add posting authority and that password never leaves your browser.

THANKS FOR THIS INFO. IT IS VITAL

UPVOTED.
very good.
I would be happy if you like to follow me and give your opinion about my posts.
Thanks.

This seems like a pretty good system if someone wants to set up some sort of automated shop or use it for some other use. The even better thing is that you don't have to worry too much about 3rd party interference.
I wish you the best of luck with the development of multi-authority permissions.
Keep up all the great work @good-karma

Yes, One of the reasons from these posts is to perhaps show potential developers what they can build and how it can bring value to them as well as community. ;)

Insteresting and useful information man, your post are really technical and i really like that

nicely explained and the info i must say is on point. looking at them again.

Thank you for sharing!
To lend/delegate SP to another account - This can help or alleviate the user with the use of his power. If for any reason he does not have free time

Thanks for the information.. It really helps me and others..

nice @good karma for sahre these informations with us

Good to know.

Thanks for the information, it is very helpful for eSteem users, including me. always success @good-karma

yeah, I delegated some upvoting to one of the steem off-shoot websites, but I cancelled it, I upvote directly now again. ty @good-karma / upvoted

This information is very meaningful to me and all other steemit friends. And I strongly support the system. This is automatically thanks to his information

Thanks for this information @good-karma, I'll be saving this for future use. There's so much to learn about how to use this platform and the community does a great job of posting it for us newbies.

Witness/resteem/upvoted

Could you use this to set up an automated shop?

Thanks for the awesome article!

Yes, this and additional escrow transfers to hold funds until goods are received...

Thank you for providing this great information. Good luck for you, for me and for my friends all

nice @good-karma
I am very supportive with the development of multi-authority permissions.
I really appreciate your hard work to progress for steemias @good-karma players

This is exactly what i need. Now this noob just need to figure out how to implement it.

Good post, be my friend and help me friend
@good-karma

I would like to report an abuse of esteem app use. @zulfahmi2141 is spamming random irrelevant comments in posts to receive incentive upvotes from esteem app. He did it on my post. Link for proof is here.

Thank you! The learning curve has been a little challenging! I appreciate all the information coming my way!

Upvote, Resteem and Followed

Thank for this imformation @good-karma 😊
I hope your visit my blog and vote my post because i am so sad to see my post just 0,001 SBD.
https://steemit.com/steemit/@ojan3/steemit-girl-201787t165115566z

the information very helpful, thanks for sharing !!!

Thanks for sharing... upvoted and resteemed...

GOOD-KARMA you are a fine mind. I am so glad that some of us are able to take the Helm and understand the working s of the ship while the rest of us (meaning me in particular) have a wonderful cruise.
My experience with Steemit has been great since I started in June this year. So I am a minnow. That doesn't mean I can't go talk to the quartermaster or the machinist mate.
I have faith that your endeavor will work just fine, and make this ship work even better than before.
here is a painting I did, I will share with you now... no I mean share... to me this is an orange explosion of steem power. It is for the ones of us that have the great minds to make steem even better.... :D
083 - Copy - Copy.jpg

This post has been ranked within the top 80 most undervalued posts in the second half of Aug 09. We estimate that this post is undervalued by $14.65 as compared to a scenario in which every voter had an equal say.

See the full rankings and details in The Daily Tribune: Aug 09 - Part II. You can also read about some of our methodology, data analysis and technical details in our initial post.

If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.

Great post, how to do?

And one question; Whether it will not be sanctioned?

thanks.

Interesting post. Following and upvoted. :)

Very interesting post and very useful reading time, I feel happy to see and read postings like this. Thank you for sharing @good-karma.

Thank you for sharing this enlightening @good-karma. I resteem...

que bueno,, las crypto nos rodea,

Thanks for sharing!

Thanks for sharing great post

That's nice. Good post.

Steemit is the great platform to earn money