Multi-sig, short for multi-signature, is a security feature that requires more than one private key to authorize a cryptocurrency transaction. It is often used to add an extra layer of security to cryptocurrency accounts and prevent unauthorized access or misuse.
In a multi-sig system, a certain number of private keys are required to authorize a transaction. For example, a multi-sig wallet might require three out of five private keys to sign a transaction before it can be broadcast to the blockchain. This means that at least three of the private keys must be used to authorize the transaction.
Multi-sig can be used in various ways, including to protect large cryptocurrency holdings, to ensure that a transaction cannot be completed without the approval of multiple parties, or to provide an additional layer of security for online accounts.
Overall, multi-sig is a security feature that requires multiple private keys to authorize a cryptocurrency transaction. It is often used to add an extra layer of security to cryptocurrency accounts and prevent unauthorized access or misuse.
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