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$YUNA has taken the measures to minimize risk when it comes to security. Every individual team wallet in the project that contains $YUNA, $ETH or other assets that are meant to be used for project funding such as development, marketing, CEX listings etc. will be provided by a multi-signature protection.
A multi-signature wallet ("multisig" for short) is a cryptocurrency wallet that requires two or more private keys to sign and send a transaction. This type of digital signature makes it possible for two or more users to sign documents as a group. Co-owners and signatories to a shared multisig wallet are known as copayers.
The number of signatures required to sign a transaction is dependent on the kind of wallet. It may be lower or equal to the number of copayers of the wallet.
Multisignature wallets work in similar ways to bank vaults. The technical component behind a bank vault makes it so that more than one key is required to open it. As a result, multisignature wallets are often called vaults.
You can choose how many keys are allowed to open the “vault” (as well as the minimum number of keys needed to unlock it). For example, you may choose to have a 3-of-4 multisig where three out of four assigned private keys are needed.
Multisignature wallets offer additional features which non-crypto wallets offer, such as providing each copayer access and oversight over the funds and transactions of their wallets.
A unique recovery phrase is given to each copayer sharing the wallet. Copayers must keep their recovery phrase secure or risk the chance that there are not enough copayers to sign transactions.
Imagine a business partnership between several individuals. A multi-signature wallet can be used to control access to their joint company funds.
They may choose to set up a 4-of-6 wallet where each individual holds one key, and none of them can misuse the funds or gain access. This means only decisions that are unanimously agreed upon by the majority will be made.