Multi-signature Accounts

Short Description:

Multi-signature accounts enhance security and trust by requiring multiple authorized signatures to approve and execute transactions, preventing any individual from unilaterally controlling funds.

Main Description:

Multi-signature accounts require multiple authorized signatures to approve and execute transactions. These accounts enhance security and trust by introducing a multi-party approval mechanism. In a multi-signature setup, a predefined number of signatures from different authorized parties is required to validate and authorize a transaction. By distributing signing authority among multiple participants, multi-signature accounts mitigate the risk of single-point vulnerabilities and protect against key compromises. They are particularly valuable in scenarios involving shared ownership, joint ventures, corporate accounts, or high-value transactions.