Multisignature Wallets Explained | Animation | Cryptomatics
Cryptomatics
In this video, we will explain what Multisignature Wallets are. We will also briefly cover their advantages and disadvantages and take a look at some of their use cases.
The idea of Multisignature wallets appeared in 2012, the first ones being created and implemented a year later, for the Bitcoin Blockchain.
To define a Multisig wallet in a simple way, we could see it as a bank vault. From a technical point of view, to unlock such a vault, more than one key is required. Therefore, a Multisig crypto wallet will allow you to choose the number of keys needed to unlock it, but also to set a minimum number of keys that can perform that procedure together.
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- CHAPTERS -
0:00 Intro 0:27 What Is a Multisignature Wallet? 1:32 Advantages and Disadvantages of a Multisignature Wallet 2:45 Multisignature Wallet Use Cases 4:25 Conclusions 5:07 Outro
⛓️ 🔗 Useful Links 🔗⛓️
â–şhttps://www.makeuseof.com/what-are-multi-signature-wallets/
â–şhttps://academy.binance.com/en/articles/what-is-a-multisig-wallet
â–şhttps://support.bitpay.com/hc/en-us/articles/360032618692-What-is-a-Multisignature-Multisig-or-Shared-Wallet-
â–şhttps://www.coindesk.com/tech/2020/11/10/multisignature-wallets-can-keep-your-coins-safer-if-you-use-them-right/
#MultisignatureWallets #Animation #Cryptomatics #Blockchain #Crypto #CryptoEducation ... https://www.youtube.com/watch?v=E47Ih7DArKs
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