#MultiSignature Transaction

Beginning with this post, we are starting a new ARK Core Series that will cover all the new transaction types included in the latest Core v2.6 upgrade. This new Core blog series will go over the details of how these new transactions work, present their use cases and explain their implementation into ARK Core. First on the list, multisignatures. The basics of how they work, why they are an important part of blockchain solutions and how they can be utilized in ARK. What is a multisignature? Multisignature (multisig) refers to requiring more than one key to authorize a transaction. It is generally used to divide up responsibility for possession of coins held in an address. Example: You and 2 others have a startup,...

With ARK Core v2.6 we’re focusing on making the multi-signature implementation as useful as possible for end-users. So, we’ve developed a Multisignature Server which can be run as a standalone server — enabling users to successfully create and use their own multisignature wallets. In the previous blog post, we covered the basics of Schnorr’s multisignatures (multisig), just one of the new features implemented in the Core v2.6 release. We covered how it works, the use-cases and why it’s important. But that’s not the end of the story… from a user’s perspective, there needs to be a way to collect signatures from other participants in order to register and use a multisig address. This is where a Multisig Server comes into play.Multisig...