104. What is multi-sign and multi-backup?

Answer: Multi-signature means that when a user pays a sum, several parties must “sign for confirmation” and joint verification simultaneously. Multiple back-ups mean that the user’s “receipt and expenditure ledger” (i.e., sub-account) must be backed up in several different places simultaneously. Generally speaking, the user’s private key is stored in 3 hosts, and multi-signature is performed. The user can set the number of multi-signatures; backups are at least 3, but 6 backups are safe enough. The machine completes these tasks, the private key is invisible to the user, and the user does not need to remember the private key. Multi-signature has a perfect preventive effect on hackers because it is unlikely that a hacker can compromise so many devices simultaneously. After adopting this technology, payment, and settlement can be fully accelerated while fully ensuring transaction security, and its security level can exceed that of banks. Chainless System already has two invention patents related to multi-signature and multi-backup technology.

Share this article or Email subscribe:
RSS
Follow by Email
X (Twitter)
#sfsi_plus_floater .sfsi_plus_twt_tool_bdr .sfsi_plus_inside{margin-top: -18px;}
Visit Us
Follow Me
YouTube
YouTube
Share this article or Email subscribe:
RSS
Follow by Email
X (Twitter)
Visit Us
Follow Me
YouTube
YouTube
Scroll to Top