Multi-Signature (Multisig)

Multi-Source Data Layer in crypto terminology refers to a unified framework that aggregates data from various blockchain networks, enabling comprehensive analysis and insights.

Multi-signature, or multisig, refers to a security feature that requires multiple signatures or approvals to authorize a transaction. Instead of a single private key controlling access to funds, a multisig wallet requires keys from two or more participants.This setup enhances security by distributing control. For example, a wallet might require three out of five designated users to sign off on a transaction before it is executed. This makes unauthorized access more difficult, as an attacker would need to compromise multiple keys instead of just one.Multisig is useful for various scenarios. It can be employed by businesses to manage their funds collaboratively, ensuring that no single employee can perform transactions independently. It also serves as a safeguard for personal users who want to add extra layers of protection to their holdings.Ultimately, multisig helps mitigate risks associated with single points of failure, offering a more robust way to manage and secure digital assets.

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