Glossary

Crypto wallet

A crypto(currency) wallet is a tool that enables users to securely store, receive, and send various types of cryptocurrencies and tokens. It serves as an interface for interaction with the blockchain, managing the private and public keys necessary for access and control of digital assets.

Crypto wallets can be used solely as a software or through dedicated hardware devices. Each wallet, whether regular or multisignature, is represented by an address, a unique alphanumeric identifier derived from its public key.

Multisig

Multisig is short for multisignature wallet, a type of cryptocurrency wallet that typically requires two or more private keys to authorize transactions or perform certain actions, as opposed to a single key in a personal wallet.

Owner

Ownership of a multisignature wallet is distributed among the individuals associated with the multisig. Each individual is referred to as an owner, as they control a portion of the multisig wallet’s private keys, which are linked to the addresses of their personal wallets.

Signers & confirmations

A signer is a term used for a multisig owner who approves a pending action by signing it through their crypto wallet. For an action to be executed, it must reach a predefined threshold of confirmations from the pool of owners. Therefore, the term refers to the specific combination of a multisig action and the owner involved, rather than the multisig wallet in general.

Actions & transactions

Actions refer to any multisig operation that requires the predefined number of confirmations. These include basic asset transfers and interactions with smart contracts, but also functions within the multisig wallet itself, such as updates to the owners’ pool or changes to the confirmation threshold.