Action execution

Execution is the final step in processing an action within a multisignature wallet. It carries out the collective decision to transfer assets, initiate a smart contract interaction, or update the multisig configuration.

Once an action has been confirmed by the required number of owners, it becomes eligible for execution. Depending on the wallet’s implementation and configuration, execution may occur automatically or require manual initiation by an owner. At this stage, the action is removed from the pending queue and pushed to be processed on the blockchain.

Gas fees are one of the key considerations during this stage, as they cover the costs of processing the action on the blockchain. High gas fees can affect both the speed and cost of execution, making it essential for wallet owners to manage these costs effectively. Understanding potential fluctuations in gas prices and planning accordingly can help ensure that actions are executed efficiently, avoiding unnecessary delays or expenses - similar to regular crypto wallets.

In many multisig wallets, the user who triggers execution pays the gas fees from their account. However, some wallets allow these fees to be paid directly from the multisig’s own funds. This feature simplifies the process by ensuring that the wallet itself covers the costs, making execution smoother and less dependent on individual owners’ ability to pay upfront and manage reimbursements later.

The order in which actions are executed also varies among multisignature wallets. Some wallets require actions to be executed in the order they were submitted, particularly when actions are interdependent. This helps prevent errors and ensures that transactions are carried out correctly. Other wallets allow actions to be executed out of order, providing flexibility to prioritize certain actions based on urgency or strategic needs. Owners of wallets that require ordered execution must be mindful of the action sequence, as delays in confirming earlier actions can hold up subsequent ones. Conversely, wallets that permit unordered execution offer more flexibility but require careful management to avoid potential issues.