Why do several people need to sign together to transfer funds belonging to a project team?
A number: Project teams and trading platforms often use multisignature wallets to store funds, so no single person can transfer them on their own.
Multisig splits up the single point of risk: if one private key is stolen, the assets can’t be transferred immediately, and no one person can transfer assets without authorization.
Remember this—it’s more useful than memorizing a bunch of jargon. Don’t click links from unknown sources, and check what you’re authorizing before you approve it.
Quick look: $BTC reports 74868.89 (24h +1.12%).
A number: Project teams and trading platforms often use multisignature wallets to store funds, so no single person can transfer them on their own.
Multisig splits up the single point of risk: if one private key is stolen, the assets can’t be transferred immediately, and no one person can transfer assets without authorization.
Remember this—it’s more useful than memorizing a bunch of jargon. Don’t click links from unknown sources, and check what you’re authorizing before you approve it.
Quick look: $BTC reports 74868.89 (24h +1.12%).