PiNetwork unveils plans for multi-signature wallet to enhance security and streamline transactions within mainnet Pi app
Pi Network has unveiled plans for a secure multi-signature wallet to enhance security and simplify transactions within mainnet Pi applications. This advancement is expected to provide greater asset protection and new possibilities for Pi application developers and users.
Explore the prospects of multi-signature wallet integration:
As the world of decentralized applications (DApps) continues to evolve, developers continue to seek solutions to improve security and user engagement.
To meet these needs, Pi announced plans to release a secure multi-signature (multi-signature) wallet system for mainnet Pi applications. These wallets will provide unprecedented security for Pi assets and simplify transactions between Pioneers and applications.
“A multi-signature (or multi-signature) wallet for mainnet Pi applications will be released soon, allowing developers to enhance the security of the Pi received and held by their applications,” the Pi Core Team wrote on June 28.
Dual wallet: receive and send
The new mainnet Pi App system will maintain two wallets. The first is a receiving wallet, which is similar to a savings account and allows developers to collect Pi from app users through Pioneer-to-App payments. The second is a sending wallet, similar to a checking account, used to make payments to Vanguard.
Receiving wallet: multi-signature cold wallet
The receiving wallet is designed as a multi-signature cold wallet and will securely store the majority of the application's Pi reserves. The wallet runs offline and requires multi-signatures for transactions, increasing the protection of Pi assets. This mechanism improves security and specifically helps collective team governance by forcing multiple members to sign off before any Pi is dispatched.
