Polygon multisig wallet
Compare multisig fees
The approximate cost of Polygon multi-signature transaction on blockchain.
Polygon multisig wallet is a type of a wallet that adds an extra layer of security by requiring multiple users keys to authorize transactions.
Formerly Matic Network, Polygon is a Layer 2 scaling solution for Ethereum. It enhances the Ethereum network's scalability and efficiency, enabling faster and cheaper transactions. Polygon's technology aims to improve user experience and promote the adoption of decentralized applications (DApps) and blockchain solutions.
Supported standards
Polygon ERC-721 tokens are unique digital assets on the Polygon network, akin to Ethereum's ERC-721. These tokens represent ownership of distinct items, collectibles, and digital art. Polygon ERC-721 tokens empower creators and collectors by revolutionizing digital ownership and enabling the creation of one-of-a-kind digital item.
About Polygon ERC-20: Polygon ERC-20 tokens are Ethereum-based tokens that operate on the Polygon network. Leveraging Polygon's scalability, these tokens enable faster and cost-efficient transactions, expanding the utility of the Ethereum ecosystem. They play a vital role in enhancing the functionality and accessibility of decentralized applications (DApps) and services.
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 Polygon 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 Polygon 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 Send button, fill the transaction details and click Continue. If it is a multisig wallet, wait until other participants have signed the transaction.
A Polygon wallet is a digital tool that lets you store, send, and receive Matic and tokens built on the Polygon blockchain. It has a public address for receiving funds and a private key for authorizing transactions.
