Multi-signature accounts

By: Russell

A multi-signature account (MultiSig) is a type of proxy account. Proxy accounts were introduced earlier in the roadmap to control mints of NFTs and fungible tokens. A proxy account record is kept in the validation layer ledger after its creation. The creation of a multi-sig account and its use are ordinary transactions that do not use smart contracts.

While there is no Administrative User for a multi-sig, it is first created by a user who chooses both (i) a set of users authorized to endorse proposed transactions on the MultiSig account and (ii) the number of endorsements required to create a valid transaction. The set of Multi-Users is fixed after the account is created.