A multi-sig or multi-signature account is one that is managed by two or more custodians so that the responsibility is shared and key person risk is avoided in funds management.
Recently, the Everscale core team rewrote the multisig code from scratch. This will help achieve better security and code consistency.
The previous version of the multisig code did its job well: there were no critical errors, but it was written a couple of years ago on a very old version of the compiler. The old multisig was formally verified and didn’t cause any serious problems; however, it was complicated for audit companies to verify smart contracts, as formal verification wasn’t possible for the old version .
Now, the new multisig code is formally verified, has been through several iterations of tests and code corrections, and is already in production. It’s also got a new feature – deployment with internal messages.
Multisig accounts are an essential infrastructure element in a decentralized system – DAOs, treasuries, or enterprises can not be built without them.
The old multisig can be updated with the new code, and some wallets’ developers are already updating it (for example, the Ever Surf team). Everscale users don’t need to update the old version of multisig; however, if you’d like to do it manually, please refer to our Discord or Telegram chat for guidance.
You can also watch our YouTube video to find out more about multisig accounts on Everscale.
The multisig code is in the following GitHub repository: https://github.com/EverSurf/contracts/tree/main/multisig2