Multi-Signature Wallet (Multisig)

A Multi-Signature Wallet (Multisig) is a type of cryptocurrency wallet that requires a predefined number of multiple private keys, or "signatures," to authorize and execute a transaction, fundamentally eliminating the single point of failure inherent in standard single-signature wallets. This security mechanism, often implemented via a smart contract on a blockchain like Ethereum, typically uses an M-of-N scheme, such as 2-of-3 or 3-of-5, where 'M' is the minimum number of required signatures out of 'N' total key holders.