Multi-Signature (Multisig)

A type of security model and digital signature scheme that requires users to provide multiple keys to authorize access to or transact with secure digital assets. Such a transaction must be signed by a threshold of participants in order to be valid, similar to how some legal or financial documents require a co-signer or multiple authorizations across different mediums. Multi-signature schemes have numerous benefits, including dividing up responsibility for possession of a digital asset among multiple people, heightened security by eliminating a single-point of failure, and a solution for wallet recovery in the case of someone losing their private key.