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Onchain Economics
Infrastructure

Multi-Signature Wallet(Multisig)

A wallet requiring multiple private keys to authorize transactions, providing shared control and enhanced security.

In-Depth Explanation

A 3-of-5 multisig requires 3 signatures from 5 keyholders to execute transactions. Multisigs secure protocol treasuries, prevent single points of failure, and enable shared organizational control. Gnosis Safe is the dominant multisig on EVM chains. However, multisigs centralize control compared to on-chain governance—they require trusting the signers.

Related Terms

Wallet

Software or hardware that stores private keys and enables users to send, receive, and manage cryptocurrency.

Treasury

Protocol-owned assets held in smart contracts, typically controlled by governance for funding development and operations.

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Gas Fees

Transaction fees paid to validators/miners for executing operations on a blockchain.

Gwei

A denomination of Ether equal to one billionth of an ETH, commonly used to express gas prices.

Layer 2

L2

Scaling solutions built on top of a base blockchain (L1) that process transactions off-chain while inheriting L1 security.

Layer 1

L1

The base blockchain that provides security and consensus, such as Ethereum, Bitcoin, or Solana.

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