Generally, institutions that hold a large amount of money will use multi-signature mechanism to ensure the security of money. The so-called multi-signature means that more than one person agrees that the transaction will take effect. To understand the actual process, let's practice.
The master account needs more than 1 ETH to create a new contract, and at least three accounts are needed to complete a multi-signature wallet.
Ok, after entering the password, I see that the wallet is being created. Here, we need at least two wallet accounts to agree to send any coins.
Wait patiently for a while and you will see that the multi-signature wallet has been created and there is an address after it is created. You can save ETH from other addresses to multi-signature addresses just like normal fund transfer. If you deposit 100 ETH here, you can see that there is 100 ETH in the account, and at least 2 people need to agree each time.
We have created three management addresses for the multi-signature account here, so the other addresses need to be manually added and changed into the wallet to view or operate the account.
If you choose to transfer money from a wallet with multiple signatures, you will be prompted that you have exceeded the daily limit and need another account to confirm.
Let's go according to the normal process first. After entering the password of the initial account, you will see the freeze confirmation in the transaction history. When there is confirmation, you will find one more reminder in the fog of all multi-signature accounts.
PS: Since the smart contract of Ethereum is used at the bottom of the multi-signature address, it needs to consume gas every time it is initiated (including approval by others), which means it needs to ensure that there is enough ETH in the management account.