Wallet is a tool to interact with counter-parties and with a blockchain itself. We use a single-key wallet mostly to proceed with either receiving/sending assets, or transferring rights. However, sometimes there’s a need to share responsibility or/and upgrade the security of the funds (or funds of a group of people). That is the case when a multi-signature tech comes in handy.
In the context of cryptocurrencies, the first implementation of the technology was made in relation to Bitcoin addresses in 2012. The first multisig wallet was launched by BitGo team the year after. It is difficult to outline what the most critical factor is — security or value/rights management — but without doubt: multisig is the logical evolution for the decentralized crypto-world. Why?
Being a single point of failure is always a risk. Thus, by adding several more owners to the contract you enhance your security and eliminate human errors as much as possible.
We all prefer a decentralized way of doing things including managing financial resources. Multisig is a tool to make decisions as a team, but not as a single point of authority with the only voice making all decisions. It enhances teamwork and brings the quality of decisions into a better level.
Tezos ecosystem keeps the pace of its evolution too: it has just gotten the first multisig wallet for your XTZ and FA assets — TzSign!
TzSign is a web-based multisig wallet for Tezos. It is an open-source tool to manage your XTZ and Tezos based financial assets. Manage value and rights collectively with your friends/partners via an easy-to-use UI. Create, manage transactions and delegations in a click! At the moment it is deployed on the EDO testnet but mainnet is coming very soon.
Get on board with Beacon SDK identifying yourself by Temple (ex-Thanos) or Spire (others will be added soon). As soon as you are logged in you can follow and manage an already existing wallet (contract) or create a brand new one.
While creating a contract you are able to set up such features like (a) the list of contract owners and (b) signature thresholds — individually per each wallet.
To get the information on your wallet and manage resources just enter an appropriate contract address and follow the “Manage Multisig” page. You can find info on the current (a) operations (and its characteristics), (b) assets, and © owners of the contract (accounts and public keys).
Being a TzSign user you can create a transaction or delegation operations. Both are controlled and managed via voting: you and other contract owners choose between “Approve” and “Reject” options to shape the destiny of each and every operation. Managing takes place according to the rules — thresholds and owners — provided while deploying the wallet contract. Once a sufficient amount of signatures is provided, the operation can be sent onchain.
Additionally, each particular contract can be modified by changing the list of owners and the threshold requirement. This particular operation is also enabled through multisig. Contract flexibility at your service!
Get your TzSign to upgrade the security of your XTZ funds and other Tezos-based digital assets. Choose TzSign multisig wallet to manage value and rights flows collaboratively with your partners in the project.
As always we appreciate your feedback and comments.
Have a good Tezos trip!
The wallet is developed by Attic Lab, a blockchain software development company. With many years of experience and a wide range of skills at the intersection of three professional fields, we offer innovative solutions for fintech and blockchain spheres. Being on the edge of financial evolution, Tezos is one of our core interests. Thus, we take an active part in developing the ecosystem. Attic Lab is glad to be in close cooperation with the Tezos Foundation. We do believe in Tezos and are open to invest our competence into specialized educational programs (as teachers), hachathons (as mentors), and products like Teztracker or multisig wallet, which you are welcome to try right now!
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