Multisig Accounts

If you are an organization that has all of the funds on a blockchain account controlled by a single private key, you may want to consider using a multisig account. Like the name suggests, a multisig account requires multiple signatures to move funds out of the account. Typically, multisig accounts are created by specifying the public keys of individual accounts and the threshold of signatures needed to control it. The beauty of Polkadot multisigs and the associated cryptography is that you can get a unique multisig account key for any number of individual account keys and the specified threshold.

Multisig Apps

Polkadot ecosystem has several multisig apps. Here are a few intuitive ones.

• Signet (for enterprise)
• Polkadot Multisig (public version of Signet)
• Multix by ChainSafe
• Mimir
• Polkasafe