Our Students Break Down Multisig Wallet || Cohort X

[Music] hello everyone welcome back to another exciting week here AT3 Bridge we wrote a lot of contracts this week including M factory we did M foring we did nft GED events and what stood out for me was the M [Music] guet the mtis wallet is a digital wallet that requires two or more uh signatory before a transaction is actually executed or approved and those um wallets are designed in a way that you can't have a person to decide or to to authorize a transaction a multisig wallet is um essential because of the security features it presents to its users which is useful in the case of in case of DS and a company's contract we want require multiple people before a transaction can take place for a decision can be made so um for this um contract you know contract is just like creating an establishing an agreement between two people so you establish this agreement that okay we need to sign multiple signature needs to sign before we can actually do something so M wallets are used to create like Dows or organizations where which needs many people to verify transactions imagine a multisig wallet as um a corporate account in a financial in a commercial Bank where um the board of directors maybe consisting of three or more people um will have to sign a transaction before it is executed that means that um an individual doesn't have the right to go ahead and perform any transaction on that account except other um signatur sign so how it works is that we keep a AR of authenticated signers of allowed signers before the transaction is carried out so there must be a quum is a number of allow of required signers before a decision can be made so how that works is you put it in a contract then you use it for dos or for an organization once the quum is reached in the contract once enough people have agreed on the transaction to be made it then goes through an example of a mul wallet is a rabby wallet and examples of organizations that use multi wallet we have Dows and exchanges like biners where they need more than one person to authorize a transfer of phones before they can actually send it [Music]