фото показано с : blokt.com

Banks facilitate joint accounts, which are in the name of at least two people. With cryptocurrency wallets too, multiple owners are allowed to log into one wallet. Now, open-sourced mobile wallet for Ethereum and Bitcoin, Multy, is making the use of such wallets easier. The wallet recently enabled multisignature for users which helps to make their wallet simpler, easier to use, and more secure.

Using multi-signature could be helpful for people who use the same wallet for joint transactions. An example of this could be a family using the same wallet or business partners using the same funds for business expenses. The new multisignature scheme feature for wallets allows multiple people to sign in to the same wallet securely.

Multy’s co-founder and CEO Vadim Makovsky explained the wallet and its new feature, saying:

“In Multy, we believe that using cryptocurrencies should be secure, easy and fast. One of the best ways to manage crypto assets on Ethereum blockchain is by having a multisignature wallet based on a smart contract which allows sending a transaction only after a signature verification of the wallet’s multiple owners.”

While setting up the Multy wallet on their devices, the owner of the device can add other members to a shared wallet. The owner of the wallet gets to decide the parameters necessary for completing a transaction. For example, the user can define how many members can be added to a wallet and how many signatures will be necessary to send a transaction.

The following type of situations will be most benefitted from multisignature accounts – Controlling group or family budgets, managing DAO (Decentralized autonomous organizations) funds, other crypto organizations’ funds, and any other entity that wants to hold their funds more securely by diversifying points of attack.

The multisignature scheme will be implemented by Multy and GNOSIS. Users who have previously made a GNOSIS account can import all their data into the Multy wallet as well. The private keys of the user are stored securely on the users’ phones. The transactions on the wallet are always signed on the owner’s device, and the company’s servers never share or send personal information.

Multisignature Scheme Enabled for the Multy Crypto Wallet on Android and iOS was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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