Multisignature

A mechanism that allows multiple individuals to have access to the same wallet, but restricts the execution of transactions until all signatories approve.

Multisignature (multisig for short) is a kind of contract mechanism used in corporate finance (generally banking) to secure accounts. In the traditional banking case, multisig allows two or more persons to have access to the same account. However, whenever a transaction is made by one of these persons, the others have to endorse it or it will not be executed.

Multisig has been adapted to crypto space, allowing multiple traders to use the same wallet address. However, once again, all involved parties must approve of every transaction from the address before said transactions will be carried out.