Articles on: RtistiQ Tech for Art Authentication

Safeguard your Blockchain Account

Blockchain is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. The ledger itself can also be programmed to trigger transactions automatically. With blockchain, we can imagine a world in which contracts are embedded in digital code and stored in transparent, shared databases, where they are protected from deletion, tampering, and revision. In this world every agreement, every process, every task, and every payment would have a digital record and signature that could be identified, validated, stored, and shared.

RtistiQ uses Ethereum Blockchain for recording all Artworks and transactions on the platform. Your Blockchain Account Private Key is the link to the digital representation of Artwork on RtistiQ, without which you would not be able to perform any transactions for Artworks attached to the account.

Once the Private Key is lost there is no way to replace or recreate it for the account, and you lose the Account and the digital connect to the Artworks attached to the account and RtistiQ will not be able to represent the Artwork for any services through the platform. RtistiQ doesn't hold or store the Private Keys generated in the platform, so the platform is unable to provide any recovery option for the account.

Some of the Do's and Don't to safeguard your Blockchain account are as below

Do not share your Private Key to anyone as it is equal to giving your account and the assets attached to the account
Create multiple copies of your private keys and store them securely
Do not keep the private keys openly accessible for others to make a copy of.

In our next release we would be able to provide a direct access to crypto wallets to store your Blockchain Account and keys, to make the transactions easier to perform on the platform without private keys. You may still need to safe keep the passphrase generated by the digital wallet, but you will only need it when you need to re-enable the wallet on another device (laptop or mobile) or change user generated passwords.

Updated on: 23/11/2020

Was this article helpful?

Share your feedback


Thank you!