Optimism multisig wallet
Compare multisig fees
The approximate cost of Optimism multi-signature transaction on blockchain.
A Optimism multisig wallet is a type of a wallet that adds an extra layer of security by requiring multiple users keys to authorize transactions.
Optimism is a Layer 2 scaling solution for the Ethereum blockchain. It aims to enhance scalability and reduce transaction costs by utilizing optimistic rollups. By facilitating faster and cheaper transactions, Optimism seeks to improve the user experience and drive wider adoption of decentralized applications (DApps) and blockchain solutions.
Supported standards
Optimism ERC20 tokens are tokens built on the Optimism network, a Layer 2 scaling solution for Ethereum. These tokens follow the ERC-20 standard and benefit from Optimism's efficient optimistic rollup technology. They enhance the scalability and accessibility of decentralized applications (DApps) and services within the Ethereum ecosystem.
Optimism NFTs are unique digital assets minted on the Optimism network, utilizing its efficient Layer 2 scaling solution for Ethereum. These tokens represent ownership of distinct items, collectibles, and digital art. Optimism NFTs empower creators and collectors, transforming digital ownership and collectibles.
Reasons to use Multisig wallet
Increased Security
Traditional wallets rely on a single access point, which, if breached, leaves funds vulnerable. Multisig wallets elevate security, necessitating multiple private keys for transactions. A fortified barrier, it substantially reduces the chances of unauthorized access and fund theft.
Risk Mitigation and Business Continuity
In traditional single-key systems, if a key holder is unavailable, it can disrupt operations. Multisig addresses this risk. With multiple key holders, transactions proceed without delay, ensuring smooth business operation.
Shared Ownership
In instances where assets need collective decision-making, multisig wallets shine. By distributing control among several parties, it mandates consensus for transactions, ensuring that no single entity holds unilateral power, fostering collaboration and mutual trust.
Decentralized Organizations
Embracing the ethos of decentralization, multisig wallets cater perfectly to decentralized autonomous organizations (DAOs). With no central authority, these wallets empower collective management, ensuring that decisions and transactions echo the shared values and visions of its members.
Why choose Totalsig?
One account to manage it all
With TotalSig, you'll experience the convenience of having a single account that can effortlessly manage all your and other network assets. Say goodbye to the hassle of juggling multiple accounts and passwords.
Cheapest transactions
TotalSig is designed to minimize transaction fees, ensuring that you can send, receive, or trade your coins and tokens without worrying about high costs eating into your holdings.
Compare multisig fees
The approximate cost of Optimism multi-signature transaction on blockchain.
User friendly multisig
TotalSig's user-friendly multisig feature empowers you to enhance the security of your holdings without the complexity. Our wallet simplifies the process of setting up and managing multisignature accounts.
Frequently Asked Questions
Create a wallet in TotalSig app, and you will be given a public address. You can see and copy you wallet address by clicking on a newly created wallet.
To create Optimism multisig wallet:
1. Open TotalSig and click 'Add multisig wallet' button.
2. Choose Ethereum network, number of participants and number of required confirmations, for example 2-of-3 (any 2 signatures from 3 participants are required to approve the transaction) and click Create button.
3. Copy session ID, share it with other wallet participants and wait them to join the wallet.
4. Wait few more seconds for wallet to be created, and voila! your multisig wallet has been created!
Go to your wallet and find your public address. Share this address with the sender. The funds will appear in your wallet after the transaction is confirmed on the blockchain.
Open your wallet and click on the Send button, fill the transaction details and click continue. If it is a multisig wallet, wait until other participants have signed the transaction.
An Optimism wallet is a digital tool that lets you store, send, and receive Optimism and tokens built on the Optimism blockchain. It has a public address for receiving funds and a private key for authorizing transactions.
