Introduction
Multi-signature, commonly referred to as multi-sig, is a security feature used in various fields, including finance, cryptocurrency, and digital identity verification. In this article, we will explore the meaning and significance of multi-signature, and delve into its abbreviation in English.
What is Multi-Signature?
Multi-signature, as the name suggests, involves multiple signatures for authenticating and approving transactions or actions. It adds an extra layer of security by requiring more than one authorized party to sign off on a particular operation. This mechanism ensures that no single individual can make decisions or complete transactions on their own, minimizing the risk of fraud or unauthorized actions.
The Abbreviation of Multi-Signature
The commonly used abbreviation for multi-signature is Multisig