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Multi-Signature Authentication Meaning

Multi-signature authentication is a security protocol that requires more than one key or credential to authorize a transaction or access a system. While often used interchangeably with "Multisig Wallets", the concept of authentication is broader.

It refers to the "Defense in Depth" strategy used by exchanges and enterprises. For example, a crypto exchange administrator might need to use a hardware key (like a YubiKey), a biometrics scan (fingerprint), and a password to access the "Cold Storage" control panel.

This ensures that even if a hacker steals the password, they cannot breach the system without the physical hardware key. In a decentralized context, multi-signature authentication can be programmed into smart contracts.

A contract might be coded to require approval from three different addresses before it allows an upgrade to its code. This prevents a "Rogue Developer" from maliciously changing the rules of a DeFi protocol without the consent of the other team members or the community.

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Important Disclaimer:

Finery Markets BVI Limited (“Finery Markets”) provides software, technology infrastructure, and related Information and Communication Technology (ICT) services on a Software-as-a-Service (“SaaS”) basis. Finery Markets acts solely as a software vendor and does not operate a trading platform, does not intermediate, match, execute, clear, or settle transactions, and does not engage in any activities that would require regulatory authorisation under applicable laws.

Finery Markets’ software is non-custodial and is provided exclusively to licensed institutional entities that act as independent operators of their own environments. All counterparties are solely responsible for establishing and maintaining their own bilateral trading and settlement relationships. Finery Markets is not a party to any such arrangements and assumes no responsibility for the conduct, verification, or compliance obligations of any users of the software.

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