Threshold Multisignature
Last updated
Last updated
Threshold Multisignature is a long-established technology that remains critically important for security. It allows multiple signatories to jointly manage assets, where any transfer of assets requires the approval of a specified number or "threshold" of these signatories to complete the transaction, ensuring the assets are transferred only after reaching the required number of signatures.
In the context of the Orders liquidity pool, our Threshold Multisignature is utilized in two areas: the hot wallet and the cold wallet. The hot wallet, which handles basic Swap transactions and controls a smaller amount of assets, employs a 2/3 Threshold Multisignature mechanism. This means there are three signatories for the hot wallet, and a transaction or asset transfer requires the concurrent signatures of at least two of them.
On the other hand, the cold wallet stores a larger amount of liquidity pool assets and, besides being offline, it incorporates a 3/5 Threshold Multisignature mechanism. Therefore, there are five signatories for the cold wallet, and any operation like asset transfer necessitates the joint signatures of at least three out of these five signatories.
Whether it's the cold wallet or the hot wallet, the multi-signature parties involved in the management, apart from Orders.Exchange itself, are all well-known security audit firms in the industry that are in competition with each other, each having a significant demand for maintaining their own reputation.
| Hot Wallet (2/3) | Cold Wallet (3/5) |
|---|---|
Orders.Exchange
Orders.Exchange
MircoVisionChain Swap
sCrypt
sCrypt
TBD
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TBD
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TBD