How to create/import a MultiSig wallet in TP Extension Wallet?

About MultiSig wallet:

Corresponding to the multi-signature wallet is the single-signature wallet. If we want to conduct a transfer operation on the blockchain, we need to generate a signature with the wallet. We sign and send the transaction out. This is the way for a typical single-signature wallet and it is also for our usual wallet.

A multi-signature wallet, as the name suggests, is a wallet that requires multiple people to sign in to perform an operation. Transferring with a multi-signature wallet often requires >= 1 person to sign and send the transaction before the operation can be completed. When using a multi-signature wallet, we can specify the signature mode of M/N, that is, only M signatures among N persons can complete the operation. For example, the 2/3 signature mode means that two of the three people can sign.

The multi-signature of ETH/ERC20 (including EVM chains such as BSC/BEP20) adopts a lightweight smart contract method.

Applicable scenes:

1、When managing assets by multiple people to avoid assets being misappropriated by individuals;

2、Multiple encryptions of assets through multi-signature to enhance asset security;

3、Other security application scenarios.

Create a MultiSig wallet in TP Extension

1. Open TokenPocket Extension, click the menu in the upper right corner and click MultiSig wallet.

1. You can select [Create Wallet] or [Impor Wallet] on this page.

1. The steps of creating a multi-signature wallet are the core content.

   [Wallet Name] is as same as the wallet name you created before, which can be customized and it won’t be recorded on chain.

   [Owners] is to set the managers of the multisig wallet. The owners can manage and control the multisig wallet and a maximum of 30 owners can be set, which can be understood as the [Threshold Setting] of the multisig wallet. The owners can be set up flexibly, it is suitable for enterprises, DAO, and individuals.

   [Minimum number of confirmations] Set the minimum number of the MultiSig wallet. When the minimum number sign, on-chain operations such as transfer and contract interaction can be initiated. You are advised to set the minimum number of confirmation signatures to a value greater than 2.

   [Estimated fee] The multisig scheme of an EVM-based chain is a smart contract, so creating a multsig wallet requires paying Gas (miner's fee), which TokenPocket does not charge. [Pay with] You can click and select the wallet address imported in the wallet to pay the Gas (miner's fee) fee.

   After everything is set, click [Confirm] to read the reminders for the creation of the multisig wallet. You can also read the information on this creation on the blockchain explorer.

1. You can view the statue of Creation.

1. After creating successfully, click [Enter Wallet], then you can view your MultiSig wallet.

Import a MultiSig wallet in TP Extension

1. Open TokenPocket Extension, click the menu in the upper right corner and click MultiSig wallet.

1. You can select [Impor Wallet] on this page.

1. Select the network and enter your MultiSig wallet address, then click [Import].