Multisignature - Definition from the Hotspot Shield Encyclopedia

A multisignature is a scheme that allows a group of users to digitally sign a single document.

Multisignatures are widely used in cryptocurrencies to add an additional level of security to transactions. Before a transaction can be completed on the Blockchain, another user must sign the transaction. The number of signatures that is required for authentication is agreed before the transaction takes place and when the multisignature address is created. A multisignature can act as part of an escrow service which is vital for solving disputes and finding ownership of digital currencies etc. BitGo created the first multisignature digital currency wallet in 2013.

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