Sep 21, 2020 • 5M

Episode 25 - Multi-Signature Wallets (MultiSigs)

Open in playerListen on);

Appears in this episode

Gautam Dhameja
Block Shots provides a basic understanding of the most important blockchain concepts in five minutes. Learn about blocks, transactions, consensus, finality, governance, etc. and many more fundamentals while having your morning coffee, commuting, or whenever you’ve got a moment.
Episode details

Every transaction in a blockchain is signed by the sender. The signing of transactions is done using cryptographic signing algorithms, as described in episode 6 of the podcast.

In some scenarios, to perform an operation on the blockchain, there is a need to have more than one signatures on a transaction. Think of bank accounts with joint holders. Similarly, blockchain wallets could also be owned jointly by a group of accounts. These wallets are called multi-signature wallets or multi-sigs.