A multisig contract is a type of smart contract that requires multiple signatures to authorize a transaction. Instead of a single private key, several keys are needed, enhancing security and reducing the risk of fraud.In a typical setup, a multisig wallet can be configured in various ways. For example, a 2-of-3 multisig means that out of three private keys, at least two are required to approve a transaction. This is particularly useful for organizations or groups where trust is distributed among members.Multisig contracts help prevent unauthorized access. If one key is compromised, the funds remain secure because the attacker would still need the other required signatures to transfer assets. They help manage funds collaboratively while offering a layer of protection against loss or theft.These contracts are commonly used for shared wallets, escrow services, and managing funds in decentralized applications. By ensuring that multiple parties must agree before a transaction can occur, multisig contracts contribute to safer and more accountable asset management.