Multi-Signature (Multi-Sig)
| Multi-Signature (Multi-Sig) is an extra layer of security that requires more than one key for the authorization of a transaction. This means that multiple people must sign off on a transaction before it can be completed. This is often used in business settings where multiple people need to approve a purchase or transaction. Multi-sig can also be used to add an extra layer of security to your personal finances. For example, you could require that both you and your spouse sign off on any large purchases. This would prevent one person from making a major purchase without the other person's knowledge or approval. Multi-sig can also be used to create a "digital will" of sorts. You could create a multi-sig wallet that requires signatures from multiple people before any funds can be spent. This could be used to ensure that your finances are handled according to your wishes in the event of your death. |
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