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The slogan "Be your own bank" also means that for the management of the of his own Keys, which is not an easy problem. There must be appropriate backup solutions and security measures are taken. Furthermore the process is critical for the trade, because the assets are placed in the wallet of a Exchange, which makes them custodians during the trading process. A trustworthy Exchange is therefore essential.
Standard transactions in a block-chain network could be called "single signature transactions" because transfers require only a single signature - from the owner of the private key associated with the address. However, most networks support much more complex transactions that require the signature of multiple people before assets can be transferred. These are often referred to as M-of-N transactions. The idea is that the asset is not "charged" until the critical mass of all parties has signed this transaction. This process is intended to provide additional security within an institution or among stakeholders, as no valid transaction can be generated if a private key is lost.
Here a third party, such as an Exchange, is entrusted with the safekeeping of the private keys. In addition to the counterparty risk, there is also a risk of hacker attacks.
This type of wallet is used for operational business to guarantee smooth operation. As this system is always online, careful monitoring and security is required.
With this type, the private keys are not accessible via third-party systems. Here a functional backup solution and an effective control over the own employees is necessary.
We create an individual custody solution for you with the different wallet types. This includes the sensitization of the employees and the minimization of the counterparty risk with sustained liquidity.
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