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OK. I guess I don't understand then what multisig is all about. My impression was that it could be set up to require 2 parties to authorize a transaction.
by pbreit 11y ago
OK. I guess I don't understand then what multisig is all about. My impression was that it could be set up to require 2 parties to authorize a transaction.
- dogma1138 11y agoIt can require more than 1 "key holder" to initiate a transaction, Bitcoin supports M of N it's just like splinting the private key between a number of people. Once it's out its out, with normal transactions both parties can hold, revoke, and reverse a transaction this doesn't work with Bitcoin. It doesn't matter into how many keys you split your private key it's still a single entity even if within the organization there will be more than 1 person needed to authorize it.