Learn all about the Multi-sig-as-a-Service (MaaS) feature within the Phenix Vault offering
A Multi-signature wallet is a secure and advanced alternative to the standard externally owned (EOA) wallet that most individuals will use in the Defi space. The major issue with standard EOA wallets is that they pose potential threats to the funds stored as anyone with the wallet's private key can send the funds anywhere.
Individuals or teams that decide to use a normal EOA wallet are taking risks with their funds as access can be easily violated by the internal wallet owners or by an unknown third party.
A multi-signature wallet provides an interface for a number of wallet owners to sign and approve transactions before they're minted on the blockchain. This allows both project/team funds to stay safe and completely decentralized. One issue with Multi-signature wallets is that they can be complicated to set up and dangerous if they're used incorrectly. Phenix Finance offers a solution in the form of our MaaS which makes accessing a multi-signature wallet easy, affordable, and secure.
The Phenix Vault MaaS allows users to generate a multi-signature wallet with up to 10 unique owners and provides access to the feature-full and advanced Phenix MaaS User interface that will allow you and your team safely and efficiently manage your assets.