RE: PowerUp 💪 Movember 2025 - 👉😁👈 am b😎 ck! 😉
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Hello, welcome and great that you're still with the contest. I don't understand some things, but please clarify, it's first.
So, if you want to stake tokens, the only thing you get from it is the extra protection of staking, in case your account gets compromised and you need to change keys in time to stop any potential unstaking forgery from the attacker.
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I will explain.
Usually, when people have "liquid" HIVE on their wallets (or for that matter, any kind of tokens), and if for some reason their account keys get compromised, the attacker only needs to broadcast a transaction and the account being attacked loses all those tokens.
And because "Staked" tokens can't be "unstaked" instantaneously (on HIVE it takes 13 weeks, on ATX for example, takes 28 days), the attacker even if gains access to the keys, will not be able to steal your tokens. Even if the attacker starts the power down.
And because it takes time, gives you (the true account owner) time to change the keys via the recovery account (hence why is important to have a good recovery account of someone you know and trust).
After changing the keys, you can then gain control of your account and you can cancel the power downs the attacker might have started. Effectively not loosing anything.
This is the protection of "staking".
Note: Unfortunately liquidity pools are liquid tokens in a sense, so an attacker could gain access to all those funds. It would be nice if one could decide how to set liquidity into liquidity pools (and sort of have a version of things that are similar to staked tokens). This would be especially very important for large accounts.
Does this help understand a bit more about it?
I understood completely. You're a wizard at explaining things. I need to find out if I have a recovery account. I have that task pending. Hehe. Thanks @forykw. I think you should be a teacher.
You can go to https://peakd.com/@angeluxx/permissions and click on the RECOVERY ACCOUNT tab... in there you should be able to check and change your recovery account.
Once you change it, it takes 30 days to take effect (which is per si, another security feature, to prevent a compromised account to be able to change the recovery to another thing and then prevent you effectively to recover the account).
To change the recovery account you will need the OWNER private key. So make sure you use this on a computer that is considered safe and not compromised (aka, not in a kiosk or public computer, nor if you think your computer could be infected with some sort of virus or something of sorts).
Another way to check is using a block explorer (I enjoy this one):
https://explore.openhive.network/@angeluxx (scroll down a bit until you see properties on the left side, then expand it and you should see this)...
Currently you have ocd as your recovery account (most likely because you created the account via ocd). So you should be OK. I am not sure how quickly the ocd team is responding to requests of account recovery, but if one day you need to use it, don't wait, and tag people around, me included if you need, and tag acidyo for example which is the creator of that community. Even if from another trusted account because when these things happen, you usually can't use your own account, because the attacker has changed the keys.
Another thing that helps is being on the discord channel of that recovery account because there are probably more people around that could help you get attention and becomes a method of communication independent from the chain.
We are all teachers in life :D Ones more for some things, others for others. That's the joy of life.
Thank you, I understand everything. Copied. I'm looking forward to the power-up and the ATX giveaway.
🤗