Post
Topic
Board Wallet software
Re: Maulti sig vs single
by
satscraper
on 29/10/2024, 06:12:39 UTC
Hi all wondering what the best option is as someone looking to long term hodle maulti sig or single sig ? Also which is recommended out of the 2 cold card Q vs block stream jade ? Thanks

Definitely multisig is better for the long term. The primary goal of multisig is to mitigate the risk relevant to the case when cosigners are compromised for some reasons. If you have  n cosigners with the probability to be comprised equaled to pi (i=1....n) then the probability that all of then are compromised  simultaneously reduced to P= ∏pi (i=1....n). Suppose you have two hardware wallets from different vendors and afraid that they may be compromised by malicious firmware. Setting 2-of-2 multisig where those HWs serve as cosigner would completely eliminate  the risk for your stash should one of them be compromised.  Sure both of them can be infiltrated simultaneously  but as you can see from the  above formula such probability less than than probability relevant to single cosigner.