What Is Multisignature?
Multisignature (or multi-sig) refers to a Bitcoin address that requires multiple cryptographic keys to authorize a transaction. Instead of a single signature from one private key, a set number of signatures from different keys are needed, predetermined by the address setup. This method enhances security, dividing the responsibility of possession among several parties. It prevents a single point of failure, reducing risks of theft or loss. Historically, multisignature practices have been employed to safeguard valuable assets, such as relics in monasteries, ensuring no single individual could access them without collaboration.