What is a multisig transaction?

Adam Jones31 Oct, 2022Business

Mulitsig, also known as multisignature, is the requirement for two or more signatures on a transaction before it can be executed. Multisignature transactions are more secure than single-signature transactions. Although the use of multiple signatures from authorised parties to execute transactions is a long-established practise, the term "multisignature" or "multisig" is no longer used.