Multi-signature technology (multi-sign) is the simultaneous signing of a digital asset by multiple users. Basically, multiple people in an account have the right to sign and pay. If an address can only be signed and paid by a single private key, the expression is 1/1; whereas the multi-signature is expressed as m/n, that is, a total of n private keys can sign an account, and when m addresses are signed, the transaction is considered valid. Obviously, m must be less than or equal to n. A third-party intervention security has been added to this system, and many application scenarios that require third-party intervention in real-world scenarios can be implemented. Unlike traditional third-party interventions, rules must be decided in advance of the transaction and cannot be changed afterwards.
Bitcoin and Ethereum respectively proposed off-chain protocols such as lightning network and state channel to provide support for immediate arrival and large-scale concurrent demand. The basic logic of the lightning network and status channel is as follows: A and B (AB) put funds into the pool of funds in the chain; AB can chain transactions under high frequency, each time requiring AB's double signature, and the transaction is accompanied by an incrementing serial number (I per transaction); if A or B wants to close the channel, either must provide the evidence with the highest serial number of the transaction signed by both parties. If the other party does not provide a higher serial number (a later consensus) transaction within a certain timeframe, the funds in the fund pool are allocated according to the highest transaction serial number. In the case involving multiple parties in the transaction, pairs are formed in a long channel for trading.
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