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WHAT IS A MULTISIG WALLET?

MultiSig, aka Multi-Signature, is the term used for a multi-signature technology which aims to improve users’ security. Compared to the traditional method of having every transaction approved by one person only, MultiSig wallet requires co-approval of multiple signatories for each transaction. This brings greater confidence for the investors as to where their money is going, especially when it comes to a community or a project.

MultiSig Wallet is one of the solutions recommended by Certik to minimize Centralized Risks. The following are some of the most common criteria for examination:

  • The address for multisig deployment.
  • The addresses of the signers for specific cases of multisig deployment.
  • Identity of the signers
  • Publication and official announcement regarding multisig wallet and signers' info.

Published on February 15, 2022

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