A multisig wallet requires multiple approvals or signatures before certain transactions can be executed.
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Short definition
Multisig Wallet is a multisig wallet requires multiple approvals or signatures before certain transactions can be executed.
Simple explanation
Multisig wallets can reduce single-key risk by requiring several signers.
Why it matters
Projects, teams, DAOs, and treasuries may use multisig wallets to improve control and accountability.
Example context
A 2-of-3 multisig wallet requires any two of three approved signers to confirm a transaction.