Overview of weighted-threshold multi-signature transactions
Critical to any trustless (and trusted) system is the ability to handle different methods of governance on how allocated funds can be spent.
The weighted threshold aspect refers to the ability to assign variable weights to any signatory. So in the committee example, it’s possible that a few members are higher ranking (whether by seniority or otherwise) and could be assigned a higher weight.
- Petty joint account: Any signatory party can spend funds. Often used between two individuals with an established level of trust (couples).
- Two-factor Authentication address: As a way to add an extra level of security, it’s possible to setup a multisig address with two signatories, with the credentials spread between different devices and/or locations. In order to spend, a vote from both signatories would be required.
- Committee in control of funds: Allows for a select number of committee members to approve the spending of funds.
Multisignature Transactions NEWS AND UPDATES
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