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<p><img src="http://s3.amazonaws.com/livebitcoinnews/2016/07/17204127/1-630x330.jpg" width="630" height="330"/></p>
<p>Over the past two years, the number of multi-sig supporting bitcoin wallets have significantly risen, due to the emergence of reputable wallet platforms including CoPay, GreenAddress, and BitGo.</p>
<p>Corporations, businesses, and other bitcoin users that managed large sums of bitcoin particularly sought out for multisignature Bitcoin wallets, because of their ability to process multisignature transactions that allow various owners to be associated with one account.</p>
<p>This feature of a multisignature wallet enables groups of users to utilize the account for numerous operations. For instance, if an international corporation that conduct foreign trades on a daily basis want office managers in different countries to initiate transactions but doesn’t necessarily desire to grant full financial access, the company can create a multisignature wallet and generate many private keys for each office manager and the headquarters.</p>
<p>The directors and officers at the company headquarters can approve each transactions initiated by the officer by using their private keys to release the funds on the multisignature account.</p>
<p>The multi signature technology has also been widely used as a security solution for many established bitcoin wallet platforms. The most notable company in this field is BitGo, a blockchain security platform that offers multi signature-based protection for other wallet platforms.</p>
<p>Companies like BitGo act as an insurance company to a financial institution, in the sense that BitGo approves the release of funds initiated by other wallet platforms for further verification. This adds another layer of security for wallet platforms because if and when the platform is compromised, attackers or hackers will not be able to move the funds without the approval of BitGo.</p>
<p>According to a chart provided by Princeton professor and Bitcoin enthusiast Arvind Narayanan, 13% of the world’s bitcoin is currently protected by the multisignature technology. Although it is still a low percentage for the technologically aware users of bitcoin, experts believe it is a good start considering the recent surge in interest in implementing the technology.</p>
<p>Source: http://www.livebitcoinnews.com/13-of-worlds-bitcoin-wallets-are-using-multisig-technology/</p>
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