Definition of Multi-signature
Multi-signature is one of the security processes in any activity; more than one signature makes that activity is more reliable or secure. In addition, this signature process stops the misuse of any transactions or falsification in the field of cryptocurrency.
Brief Explanation of Multi-signature
In bitcoin trading or transactions, it is a very notable process requiring one more user or another sign to add more security or backup before broadcasting them into a distributed blockchain application.
It is also called multi-sign; in the case of transferring funds into key holder account, it requires one more authorization to transfer funds.
In addition, it comprises M-of-N transactions, where M refers to the required number of signatures in this process, and N denotes the number of signatures included in each transaction.
This multi-signature concept can also be helpful in many other areas like financial institutions and smart contracts‘ executions.