A multi-signature wallet is a type of cryptocurrency wallet that requires multiple signatures or approvals before a transaction can be completed. This adds an extra layer of security to the wallet, as it ensures that no single person has complete control over the funds. Typically, a multi-signature wallet will require approval from at least two or three different parties before a transaction can be authorized. This can be useful for businesses or organizations that want to ensure that transactions are approved by multiple parties before funds are transferred. Multi-signature wallets are generally considered to be more secure than single-signature wallets, as they make it much more difficult for hackers or malicious actors to gain access to the funds.

A multi-signature wallet, often referred to as a multisig wallet, is a type of cryptocurrency wallet that requires multiple private keys to authorize a transaction. Unlike a standard single-signature wallet that needs just one private key, a multisig wallet can require two or more keys from different parties. This adds an extra layer of security, reducing the risk of unauthorized access or theft.

Multisig wallets are commonly used in scenarios where multiple stakeholders need to approve transactions, such as corporate accounts, joint investments, or decentralized organizations. For instance, a 2-of-3 multisig wallet requires any two out of three authorized key holders to sign off on a transaction, ensuring no single party can act unilaterally. This enhances security and trust in managing shared funds.