"Using n keys to generate a multi-signature address requires m keys to spend bitcoin on this address, N & gt=M, which is m/n multi-signature."
Signature indicates the ownership and authority of digital assets, and multiple signatures indicate that assets can be controlled and managed by multiple people. Take bitcoin as an example. If you want to use coins with one address, you need multiple private keys.
Multiple signatures are of great significance. If you use a single private key, although the current cryptography can guarantee that it will not be cracked by violence, this private key cannot be exposed in other ways (for example, hackers accidentally expose themselves through trojans and so on). ), then the corresponding digital assets will also be exposed.
At this time, if the public key is generated by multiple signatures, even if one of the private keys is stolen, the thief cannot transfer the corresponding digital assets.
That is, multiple signatures make assets safer and more diversified, especially in the transaction process where private keys need to be exposed.
1. E-commerce
The more common method is 2/3 multi-signature method. For example, for a transaction, the buyer, the seller and the platform each hold a private key corresponding to the transaction address. The address first contains the number of bitcoins required for the buyer to transfer into the transaction, and the subsequent transaction confirmation, refund and other processes require two of the three parties to transfer these bitcoins out. When there is no dispute, both the buyer and the seller can confirm it. In case of dispute, the platform will conduct 2/3 arbitration.
2. Division of property
For example, a cooperative team manages a sum of money. You can use the mode of 1/N, that is, anyone can control this account. The advantage is that each user's expenditure details (corresponding to the private key) are clearly and truthfully recorded, which is convenient for liquidation.
3. Fund supervision
For example, digital wallet, exchange, similar to the 2/3 mode of e-commerce. For example, the management of family children's education fund adopts the 2/2 model, which not only restricts both husband and wife, but also increases the difficulty of stealing names.
Multi-signature technology enables the third-party platform trading with blockchain digital currency to generate natural fund security credit. I believe it will have a far-reaching impact on the future, especially in cross-border e-commerce and exchanges.