What are Multi-Signature Wallets and How Do They Work?
n some cases, it is desirable to have multiple levels of approval for spending cryptocurrencies. As the name suggests, multi-signature wallets require authorisation of transactions through multiple keys, meaning that a group of users is required to sign to approve a transaction.
When it comes to crypto custody, it works a little bit differently. Digital asset custodians do not technically store any of the assets because all data and transactions exist on a public ledger called the blockchain. Instead, what they guard are users’ private keys – the important part of a crypto wallet that grants access to the funds held in it.
