28 Jul '16, 11am

Multisig Wallet Security on the Rise, Protecting 13% of Bitcoin Today

Multisig Wallet Security on the Rise, Protecting 13% of Bitcoin Today

Today, 13% of Bitcoin is protected by multisig technology. A growing minority of Bitcoin users employ a multi-signature wallet, which uses more than one private key to access the wallet. By using this approach, wallets are much less vulnerable to security breaches, as no single party possesses all the information necessary to decrypt the wallet. Princeton professor Arvind Narayanan tweeted about the significance of the multisig uptick: 13% of bitcoins today are protected by multisig. A good start, but a long way to go. Chart by @hkalodner pic.twitter.com/9W8xo8Alnr — Arvind Narayanan (@random_walker) July 16, 2016 More cryptocurrency wallets offering multisig support More Bitcoin wallet providers have recently enabled multisig functionality, as it seems to be headed for mainstream standard status. Coinbase, GreenAddress (recently bought by Blockstream), Electrum, and many ...

Full article: https://cointelegraph.com/news/multisig-wallet-security-o...

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