A Multi-Sig Wallet, short for Multi-Signature Wallet, enhances security by requiring multiple private keys to authorize a transaction. This setup is useful for organizations or groups where trust is distributed among several members.In a typical setup, a Multi-Sig Wallet might require signatures from, say, three out of five total keys to approve a transaction. This means that no single person has complete control over the assets, reducing the risk of theft or loss due to individual error.Multi-Sig Wallets provide added layers of security and can be particularly effective for safeguarding large amounts of cryptocurrency. They are often used for business accounts, joint savings, and in cases where shared control is deemed necessary.Overall, Multi-Sig Wallets promote accountability and collective decision-making while improving security in the management of digital assets.