MultiSig explained
A MultiSig (multi-signature) wallet is controlled by several participants, where any m of n must sign to spend. It removes the single point of failure of one key — no single lost phone, stolen seed, or rogue individual can move the funds alone.
How does m-of-n work?
The signing mode is written m-n: n is the total number of participants and m is the minimum signatures needed to spend. A 2-3 wallet has three participants, any two of whom can authorize a transaction. One participant initiates a send; the others receive a signing request; once m signatures are collected the transaction broadcasts automatically.
| Setup | Typical use | What it tolerates |
|---|---|---|
| 2-2 | Personal two-device protection | Neither key alone can spend |
| 2-3 | Family or small team | Loss of any one participant |
| 3-4 / 3-5 | Team treasury | Loss of one or two participants |
| x-4+ | Larger teams / enterprise | Configurable quorum & roles |
Standard vs Accident Protection MultiSig
Standard MultiSig: funds can be spent only when the required m signatures are gathered. If they can never be gathered — a lost wallet, a missing mnemonic, an unreachable participant — the funds can become permanently unspendable.
Accident Protection MultiSig: if a participant becomes inactive, the remaining participants can still recover or spend after a preset waiting period (about 416 days). Participants stay active by signing a transaction or tapping Stay Active; someone inactive for the full period is treated as an accident and the required signature count is reduced accordingly.
Rough guidance from the app: 2-3 and 3-5 setups usually suit Standard MultiSig; 3-3, 5-5 and similar suit Accident Protection. These are suggestions only — decide deliberately for your situation.
How accident protection works per chain
The mechanism differs by chain but the guarantee is the same — Ownbit never moves your funds alone:
- EVM chains (ETH, BSC, and family) — implemented with a dedicated on-chain accident-protection contract. For example a 2-of-2 becomes spendable by the remaining party after the inactivity period.
- BTC, TRON and Solana — implemented by adding a watch-only assisting participant (wallet ID
ownbit) that only joins signing after the inactivity period. So a 3-of-4 inheritance vault is created as 3-of-5. - Other UTXO chains (e.g. LTC) — currently support Standard MultiSig only.
The on-chain MultiSig contracts are public and open source for anyone to review at github.com/bitbill/ownbit-multisig-contracts.
Which chains support MultiSig?
MultiSig is available on Bitcoin, Ethereum, BNB Smart Chain, Tron, Solana, Optimism, Arbitrum, Polygon, Bitcoin Cash, Litecoin, Dash, Dogecoin and Zcash. Changing signers and the signing mode after creation is an Enterprise MultiSig feature (on the EVM family and TRON); Team MultiSig is fixed at creation. See supported chains for the full matrix.
Frequently asked questions
What does 2-of-3 MultiSig mean?
It means three participants share control and any two of them must sign to spend. It survives the loss of any single participant while still requiring genuine multi-party approval.
What happens if a participant disappears?
In Standard MultiSig, if you can no longer reach the required number of signers the funds may become unspendable. Accident Protection MultiSig avoids this by letting remaining participants recover after ~416 days of inactivity.
Does Ownbit ever control my MultiSig funds?
No — and it couldn't even if it wanted to; the design makes it technically impossible. Ownbit never moves funds alone. In BTC/TRON accident-protection setups an assisting participant can only co-sign after the long inactivity period, and only alongside the remaining real participants.
Can I change signers after creating a MultiSig?
Only with Enterprise MultiSig, on the EVM family and TRON — there you can change Owners/Signers and the signing mode after creation. Team MultiSig is fixed at creation, so plan its participants and mode carefully.
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Install the app, then set up a cold wallet or MultiSig for the workflow you need.