Ethereum: Understanding multiple signature transactions
The cryptocurrency in the world is a major security security. One of the most effective ways to ensure that transactions are safe and reliable is several signature transactions. In this article, we will deepen what several signature transactions are, why they are used and how to implement them using the Ethereum block chain.
What are several signature transactions?
Several signature transactions include several parts that sign the transaction before it can be processed. This means that at least two or more individuals must agree on the validity of the transaction to be considered valid. In other words, several signatures in the wallet are the private keys needed to sign the deal, and only the people who have signed up with their key (that is, not through a purse) can allow the transaction.
Why could several signature transactions be used?
Several signature transactions are especially useful in situations where the dealer wants to ensure that it reaches its destination, without manipulation or by changing. Here are some scenarios where multiple signature transactions can be used:
* High Value Transactions : When sending large amounts of cryptocurrencies, several parts are often safer to sign the transaction before processing.
* Cross -Border Payments
: Several signature transactions can help prevent money laundering by ensuring that transactions are through a series of reliable accounts before reaching the final destination.
* You remember security : If the attacker gets access to one or more signatures, it may be possible to endanger the entire transaction.
Multiple signature transactions with Ethereum implementation
To implement multiple signature transactions in the Ethereum block chain, follow these steps:
Step 1: Create a multi -signature purse
- Install the Metamk wallet and create an account.
- Generate a new wallet (such as Met Mask Wallet) and the amount in its Metamk application.
Step 2: Configure two of three signatures
- Go to the Metamask menu “Configuration”, then select “Multiple Signature”.
- Choose the number of signatories you want to use (usually 2 or 3).
- Select an account that will be used for the first firm.
- Configure your second and third signature with the appropriate private keys.
3. Step: Sign the deal
- Open the MetamsK application on your computer or mobile device.
- Go to “exchange” or “transactions” and click “New”.
- Enter the addressee’s address, quantity and other information as needed.
- Select “Multi-Firm Ballet” from the drop-down menu.
4. Step: transfer a transaction
- Click “Broadcast” to send the transaction through the Ethereum network equally.
You can create and transfer multiple signature transactions in the Ethereum block circuit during these steps. Remember to always wear safe wallets and follow the best practices to manage private keys.