In the context of cryptocurrencies, the technology was first applied to Bitcoin addresses in 2012, which eventually led to the creation of multisig wallets, one year later. Multisig addresses may be used in different contexts, but most use cases are related to security concerns. Hereby we discuss their use within cryptocurrency wallets.
Multisig stands for multi-signature, which is a specific type of digital signature that makes it possible for two or more users to sign documents as a group. Therefore, a multi-signature is produced through the combination of multiple unique signatures. Multisig technology has been extant within the world of cryptocurrencies, but the principle is one that existed long before the creation of Bitcoin.