Signing a Transaction
Last updated
Last updated
Signatures are cryptographic proofs that an owner approves a specific transaction. Signatures are generated using the owners's private key and combined with the transaction data. The resulting signed transaction can be verified using the owner's public key.
Owners are responsible for:
Initiating transactions
Signing transactions using their private keys
Approving transactions proposed by other owners
For example, we want to create a multisig safe with 4 owners and confirmation threshold = 2.
At the moment we define the confirmation threshold = 2
Given that confirmation threshold = 2 and owners of the safe have to sign transaction using public keys that were added to the multisig safe and reach the confirmation threshold = 2.
Once we created the multisig safe with 4 owners and confirmation threshold = 2, we can create a transaction.
A transaction in the multisig safe can be created by any owner.
The first signature is put at the moment the owner creates a transaction.
Sign - transaction ready to sign
Signed - you/the owner has already signed the transaction
Once required signatures reaches the confirmation threshold, the transaction is ready to be executed. It can be executed by any safe owner.
