M-Sig Introduction

Multi-Signature, often abbreviated as Multi-Sig, stands as a pivotal concept within the Hedge ecosystem. At its core, Multi-Sig involves the collaboration of multiple authorized parties to jointly authorize a transaction. This technique introduces an extra layer of security, preventing single-point vulnerabilities and reducing the risks associated with single private key ownership.

The core objective of this initiative revolves around the formulation of a robust parallel signing protocol. This protocol includes the development of cryptographic techniques, smooth integration with the Hedge ecosystem, and extensive testing to assure its effectiveness in real-world settings.

• The flow diagram provides an overview of the M-Sig transaction process within the Hedge blockchain.
• Any participant within the Hedge network can initiate a M-Sig transaction, enabling them to involve multiple parties in the signing and validation of the transaction before its inclusion in the blockchain.
• This process begins with a user creating and signing a transaction with specific configurations using their wallet (1). This initial transaction remains in the M-sig mempool.
• Subsequently, designated signers can initiate a request to retrieve the unsigned transaction from the M-sig Mempool for their signature contribution (2, 3).
• Once all co-signers have signed the transaction, it is bundled and transferred to the main Mempool, from where it is incorporated into a block and eventually integrated into the blockchain (5, 6, 7).

Hedge uses M-Sig transactions to reduce dependency on third parties. By eliminating time complexity and transaction management involved in off-chain transactions, Hedge improves time feasibility and security with the M-Sig transactions that are directly performed on the blockchain.