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Multi-signature Bitcoin wallets

What are Multi-Signature Wallets?

There are no multi-signature wallets as such. But there are and are valued wallets that have the ability to be managed by multi-signature Bitcoin addresses.

Here are named three wallets that allow that functionality:

  • Copay (Android, iOS, Browser Extension, PC. Light wallet.)
  • Electrum (PC. Light Wallet.), Armory (PC. Full wallet.)
  • GreenAddress (Web)

All of them can also be handled with standard addresses.

Hardware-based multi-signature wallets.

A multi-signature address is created through the public keys of different Bitcoin addresses. This means that you can use the public key associated with the private key, which manages a hardware wallet for media address creation.

CLTV: Check Lock Time Verify functionality

It's a proposal put forward by Peter Todd. And it shows the ability to allow a transaction to be able to specify the specific date on which it will take effect. That is, the date on which the recipient will be able to make use of the funds sent.

CTLV combined with multi-signature, allows a multi-signature address 2 out of 3, to become 1 of 3 after a given date. A person may recover the funds under certain previously agreed conditions. They are defined in the transaction due to the ability to be Bitcoin programmable money.

A curious fact related to multi-signature addresses is that at the end of February 2017, around 10.75% of Bitcoin addresses that existed were P2SH, managing approximately 1.74 Million bitcoins.

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Creating multi-signature bitcoin addresses

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