The distribution of control over a multisignature wallet is one of its most essential principles. Adapting the composition of the owners to suit the purpose of the multisig is crucial to maintain its security and effectiveness. The setup can range from a single user holding multiple keys to protect personal assets to a fully decentralized ownership of community funds shared among its members.

The ownership of a multisignature wallet is distributed among multiple addresses associated with the wallet. Each address is known as an owner, and each owner controls a portion of the multisig. To execute a pending transaction or action, a specified number of owners must confirm it.

Signatures are a key component of blockchain technology, ensuring the validity and integrity of every transaction. The method of storing these signatures, whether on-chain or off-chain, has significant implications on performance, costs, and privacy. By understanding the strengths and limitations of both, you can make informed decisions on which multisignature solution to choose to optimize for your use case.

Cryptocurrency wallets are essential tools for managing and securing digital assets, enabling users to store and transfer cryptocurrencies or other tokens and to interact with blockchain. At the core of these wallets are seed phrases, private keys, public keys and signatures - four fundamental components that take part in ensuring the authenticity and integrity of the blockchain.

In July 2023, Multisight was launched as a simple analytics tool for evaluating the response activity of multisignature wallets. As various projects and organizations struggled to keep their multisig owners accountable and process transactions in a reasonable timeframe, the initial focus and purpose of the tool were clear. Providing user-friendly insights into the operations of the multisig and individual owners opened up an opportunity for teams to effortlessly measure their performance.

DAOs and other collaborative projects frequently employ multisignature wallets to manage shared assets and access critical contracts. Striving for decentralization and safety, the adoption of multiple signers is a beneficial practice to enhance control decentralization by distributing responsibility and minimizing the risk of a single point of failure. Recognizing the time and effort invested in the signer role, it is reasonable to establish a signer reward system. However, information and resources on this topic are scattered across the web. Drawing inspiration from existing projects is not straightforward, as setups are often buried in lengthy forum threads, governance proposals, and Discord channels.

TLDR: Multisight is conducting a community survey on multisig signer rewards at multisight.app/research. Don’t stand on the sidelines, take 5 minutes to share your experience, and help build a much-needed educational foundation on this topic.