What is multi-signature?
Standard transactions on cryptocurrency networks are referred to as single-signature transactions because it takes only one digital signature for a standard transaction to be completed. However, with multi-signature, each permission corresponds to multiple private keys, and the weight of the transaction signature must reach the customized weight threshold before the transaction can be executed.
The TRON multi-signature scheme includes three kinds of permission: owner-permission, witness-permission, and active-permission, where owner-permission has the authority to execute all contracts, witness-permission is used for generating SR's blocks, and active-permission is customized permission (a combination of contracts permission sets). There can be only one owner permission group and at most eight active permission groups for each address. Witness permission is accessible to only SRs.
After creating a multi-signature permission group, users can add addresses to this group. They can set up weights for each address and threshold value for the weight of this permission group. When signing a transaction in a permission group, if the signature weights of the added address reach the threshold value, the transaction can be executed.
In other words, the multi-signature mechanism allows multiple people to co-manage assets, with their signatures of different weights. In this way, users can better secure their assets by setting up multiple permission groups to accommodate various scenarios.
How do I set up a multi-signature permission group?
- Open the TronLink App, tap "Me" at the bottom navigation, then tap "Public Account Management" to enter the "Wallet Details" screen.
Or you can go to the "Wallet Details" screen by tapping “Wallet Card” on the home screen of the TronLink App.
- Tap "Permission" on the "Wallet Details" screen.
- Tap "Add" at the top right corner of the screen. (Up to 8 permission groups can be added).
- Set up the name, permission type, threshold value, address, and weight of this permission group, and tap "Confirm". Notes:
1) The sum of weights of different addresses must be greater than or equal to the threshold.
2) The added address may or may not contain the account address.
- Tap "Confirm" in the pop-up to confirm the transaction, enter the password and tap "Confirm" again.
- "Transaction submitted" on the screen suggests that you have successfully set up the permission group.
How to use the multi-signature scheme?
For demonstration, here we set the primary account address as A and the secondary address B. We'll demonstrate how it works using the example of the address B added to the permission group "test".
- Tap "Send", and then tap "Multisig Transfer" in the upper right corner to open the multisig transfer of address B.
2. Enter the account under control, namely address A, and then tap "Next Step".
3. Enter the receiving account, and then tap "Next Step".
4. Select the token you want to send and enter the amount, and then tap "Send".
5. Tap "Confirm", and tap "Confirm" again in the pop-up. Enter the password for address B, and the signature for the transfer from address A is completed.
6. You can view the details in "Multi-Signature Transactions”.
Receive a signature invitation from someone else
1. As you can see, address B has now completed its signature. What we need now to execute this transaction is the signature from address A. Enter the wallet screen of address A, and you can see "1 transaction(s) waiting for your signature". Tap "Go Now".
2. Tap "Sign" as is shown below.
3. Tap "Confirm", enter the password for address A, and tap "Confirm"
4. Now, the transaction requiring both signatures from A and B is done. You can view the details in "Multi-Signature Transactions.”