Post
Topic
Board Announcements (Altcoins)
Re: [BCN] Bytecoin. Major update NOW!
by
madzooka
on 16/08/2014, 12:22:09 UTC
I don't know if these two events (multi-sig txns and BCN launch) were somehow connected with each other but no doubt both of them have influenced on Crypto Currency world.

I agree that multi-sig is great. That's good for BCN community that devs have implemented multi-sig txns as they make txns with the use of escrow completely transparent and protected from fraud

Noob question but what is ''multi-sig txns''? how does it work?

''multi-sig txns'' - Multi-signature transactions are actually transactions from multisignature addresses (addresses requiring n sigs)

It is used to avoid losing coin holders money if they authorize payment to a seller who fails to deliver, or if an exchange holding their private information gets penetrated by hackers.