Prevents ‘Exit scams’Bitcoin is generally secured with a combination of a public and private key.
In order to transact on the Bitcoin network, a user needs to sign each transaction with their private key.
For example, let’s say the founder of a crypto exchange secures all of the firm’s assets with their private key.
In order to alleviate these issues, a soft fork was introduced in 2012 that enabled the use of multi-signature wallets.
Number & Percentage of Bitcoins Stored in Multi-Signature Wallets.

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