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MultiSig
I don’t understand how a MultiSig, requiring multiple private keys to sign, can generate the same address from multiple public keys. I thought you can only generate one address per public key, unless you’re using a HD wallet? Could somebody explain this to me very simply, since I am not a programmer or anything like that. Thank you in advance!
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Saarah Rasheed @saarah95gmail-com
Saarah Rasheed @saarah95gmail-com
What happens is that n public keys are combined to create a new public key that represents the new multi-sig pubkey. This key thus can only be unlocked using at most m number of private keys. If you want 3-way multisig that needs at least 2 signatories to approve a transaction, then you use 3 public keys and set 2 as the number of signatories while creating the multisig key. Here’s a complete breakdown of how that works:
https://bitcoin.stackexchange.com/questions/6100/how-will-multisig-addresses-work