A multi-signature address is an address that is associated with more than one private key. Multisig have lots of uses, wallet sharing, increased security and escrow. Further readings:
Multisig, The Future of Bitcoin.
Part 1. Create Multisig Address- To create a m-of-n multisig address, we need n public keys. You can easily get public key with respect to your address.
- Now we can create our multisig address
- You can find the newly created multisig address on "Addresses" and export this multisig address.
Part 2. Send to multisig addressSend to multisig address is identical to your normal transaction, just provide your multisig address as recipient.
Part 3. Spend from multisig addressHere we'll describe how Alice and Bob spend FusionCoin from their 2-of-2 multisig address. This transaction needs to be signed with two private keys, one is hold by Alice, the other by Bob.
- Alice reviews her balance of her multisig addresses.
- Alice starts creating transaction from the 2-of-2 multisig address.They each has a private key of that address in their wallet.
- Alice sign the transaction with her private key, and export the raw transaction. Alice then needs to send this raw transaction to Bob(Email, BitMessage, SMS...).
- Bob import this raw transaction, he can see the transaction is already signed by a private key. Bob reviews the transactions and sign with his private key.
- Now the transaction is signed by two private keys. Bob can simply click "Send" to broadcast the transaction.
