Saturday, January 8, 2022

NULS Multi-signature launching soon

 




What is multi-signature?
Multi-signature, also known as Multi-sig, which is a digital signature that allows multiple users to sign one transaction. To address in a simpler way, an account that is owned, managed, signed by more than one party.

In most cases, there is only one private key that manages a single account, which we call it 1/1. Multi-sig is different, it goes m/n, "n" refers to the amount of private keys that are authorized to sign for the account, transactions only take effect when the number of signatures reaches to "m". In this case, "m" must be less than or equal to "n".

How is Multi-sig applied in cases
Multi-signature has many use cases in account authority management.

Assets management
Multi-sig greatly enhances security level by allowing multiple people managing one account using different private keys, which lowers the risks of assets being attacked.

Redundancy
By managing one account with Multi-signatures, even if one of the signatories lost the private key, the rest of them can still get access to the account that is being protected by multi-sig.

Department Authorization
A matter that must be approved and signed by multiple departments before it takes effects. Every signature can be traced and it is transparent to all parties.

Assets that supported by NULS Multi-signature

Our multi-sig comes as a DApp, which is compatible to NULS and NerveNetwork blockchain The Multi-sig DApp can be used to manage NULS and Nerve mainnet asset , also including assets bridged from Ethereum/Polygon/Arbitrum/BSC/Heco/OEC/Cronos and other blockchains to NULS through NerveBridge(currently not compatible with NRC20 assets )

A quick starter on NULS Multi-sig DApp
How to use Multi-sig DApp in NULS network

Connect Wallet
To get access to multi-sig DApp, connect wallet by Nabox or Metamask.
Click & Down extension wallet here.

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