How do the security questions help me to recover my account?
Your security questions (specifically, your answers) are used to encrypt and decrypt your password, which in turn is the only access to your private key.
Think of this as that your Oxis account is a safe where you keep your cryptocurrencies, and your private key is a key. No one else can own that key.
But the key to the chest can be lost, so you need a way to protect it without having to share it with anyone, not even the Oxis team . For this reason, we allow you to choose a password that will cryptographically encrypt that key (with the SHA-256 algorithm) and will protect it in three different distributed locations, so that it is not lost or stolen.
Thus, it is as if you took the key from the chest of your cryptocurrencies, and put it in turn, inside another chest.
However, it may happen that somehow you forget the password, and you find yourself in the need to recover it . This is where the security responses you configured when creating your account with us come into play .
An extra layer of security that Oxis offers is the encryption of your password through the security responses with the Bcrypt algorithm . Responses are also stored in three distributed locations.
So the chest where you kept your key needs to be protected, and that's possible with the three security questions. This ensures that you are the only person who can make changes to your account.
As everything is mathematically protected, you need to have your security answers to be able to access the chest where the key that allows access to your funds is located. If you don't have the answers, no one, not even the Oxis team can help you get your cryptocurrencies back.
Therefore, please read this article , where we collect some recommendations to keep your Oxis account safe.