Collaborative Multisig Transactions
Transactions that are possible on Coinshift.
Collaborate with the team members in decision-making and commenting.
Details of the type of transaction supported on Coinshift -
  • 1-of-n: Any one of n different people can approve transactions.
  • 2-of-2: Each of 2 different people should approve the transaction. If any one of them rejects the transaction then it will not be completed.
  • 2-of-3: Any 2 of 3 people can approve the transaction.
Note - You can also add an owner while Creating an account.
Users will get to know how many signatures are required to authorize the transaction.
Once the transaction is initiated.
Notifications and Transactions status shows the state of the transaction -
  • Yellow represents the pending state.
  • Green represents the approved state.
  • Red represents the rejected transaction.
The description and disbursement details will help owners know about the purpose of the transaction along with the sender's address and amount.
Moreover, Any owner can execute the transaction.
While doing any multisig transaction, the signers need to approve/reject the transaction to reach the threshold. After reaching the threshold, any of the signers can now execute the transaction on the blockchain and pay the gas fees.
Image representing the view to another owner before Approving or Rejecting the transaction.
To Approve the transaction, users need to click on approve and sign the transaction.
To Reject the transaction, users need to click on Reject and sign the transaction.
Note - Once the signers reach the threshold then any other signer can pay the fees and execute the transaction.
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