Is there a multi-sig Steem wallets?
No, I don't think steem has such kind of security system. Although steem has posting key, active key, memo key owner key but they use for different criteria. Posting key can be used for posting, voting, and commenting. The active key can be used for money transfers. The owner key can be used for anything but memo key is not a very useful one. But among all of them you have the master key, if you lost it you can lose your account forever.
Now, what is multi-sig wallet? how it's work?. I am going to explain to you. If you have 100$, they are are in a safe address. And that money has a corresponding private key. If you want to spend that money you must have the private key. If you lose that key or stolen or hacked then all your money will vanish.
So how can we increase the security?. Let you have one thousand dollars. And instead of one single key, you create three security keys. And added a rule that if you want to spend that money you need at least two keys. You shouldn't put these three keys in one place. Instead of that put one key in your mobile phone or in your wallet and keep that always with you.
And keep the second one in a safe place. Another key gives it to the multi-sig provider. Then if you want to spend any money from that wallet you need your authorization and multi-sig provider authorization. This is how its work.
Hello, steemians!!! This is my little knowledge about the steemit wallet that's what I just tried to share with you in this post. Hope you like my post. Have a lovely day. Thanks for reading my article. If you like my post please follow, comments, upvote, and resteem it.
@linco with love.
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