? At present, the widely used wallets are mostly single signature wallets, that is, only the private key of the wallet holder can be verified when trading.

Multi-signature wallets are also created based on accounts (or addresses), but some settings are made when they are created. The private keys of the wallet creator and manager are kept in the wallet and managed by these accounts (addresses), and one or more of these managers need to authorize the transaction.

Application scenario?

1. You want to hold some large etheric coins for a long time, but you are worried that the protection of a single private key is not safe. You can create a 2/3 wallet, that is, this wallet needs the signatures of at least two of the three accounts when conducting transactions, but in fact, all three private keys are managed by you.

2. You share a wallet with your good friend, so you can create a wallet with 1/2 signature. You don't need to know the password of the other party, you can also use this wallet at the same time.

You can also set a limit for your wallet. Within this limit, you can pay with your own private key, but beyond this limit, you need everyone's signature to take effect.