MultiSig, short for Multi-Signature, refers to a security feature used in various digital transactions. It requires multiple signatures from different private keys to authorize a transaction. This means that instead of a single keyholder being able to manage funds, multiple parties must approve any movement of assets.This setup enhances security and reduces risks. For example, a company might set up a MultiSig wallet requiring signatures from three out of five executives to complete a transaction. This way, even if one key is compromised, unauthorized access to the funds is prevented, as additional approvals are necessary.MultiSig is also useful for shared accounts, where multiple individuals or entities need control over funds. It provides a way to establish trust and accountability among partners or stakeholders by ensuring that transactions are made collaboratively. Overall, it adds an extra layer of protection and helps prevent fraud.