Frequently Asked Questions
A multisig wallet is a cryptocurrency wallet that requires multiple private keys to authorize a transaction. Instead of one person holding a single key, multiple parties must sign off for a transaction to be completed. This setup adds an extra layer of security, making it more resistant to hacks and unauthorized access.
DeTrust Multisig wallet offers enhanced security by reducing the likelihood of a single point of failure. It is useful for businesses, joint accounts, or large holdings, ensuring that multiple stakeholders must approve transactions. This reduces the risk of theft or fraud compared to single-key wallets.
DeTrust Multisig Wallet offers significant competitive advantages over other multisig wallets, including Gnosis Safe, by introducing innovative features that open up entirely new use cases. One of the standout features of DeTrust is the delayed transfer of signing rights, which allows users to set up time-based or event-triggered shifts in control over wallet signatures. This feature provides unique flexibility for situations such as inheritance planning, business succession, or structured fund releases — scenarios that are not as easily supported by competitors like Gnosis Safe.
Key Competitive Advantages of DeTrust Multisig:
1. Delayed Transfer of Multisig Control:
Key Competitive Advantages of DeTrust Multisig:
1. Delayed Transfer of Multisig Control:
- Unlike Gnosis Safe, DeTrust allows users to program the delayed transfer of signing rights to designated parties. This is ideal for use cases like:
- Crypto Inheritance: Automatically transferring control of funds after a specific time period.
- Business Succession: Gradual handover of control to successors.
- Trust Funds: Setting up time-based releases of funds for beneficiaries.
- This added flexibility enables users to automate complex scenarios that would otherwise require manual intervention.
- DeTrust emphasizes a more intuitive and user-friendly interface compared to Gnosis Safe. Our platform is designed to be accessible for both technical and non-technical users, making it easier to manage complex multisig setups without requiring advanced knowledge of blockchain technology.
- Simplified workflows and user-friendly navigation ensure that even first-time crypto users can comfortably manage their assets and permissions.
- Smart Contract Integration with Delays: DeTrust supports use cases that require timed or conditional signature transfers, which opens up possibilities for deferred payments, charitable giving, and time-locked investments.
- Legal and Succession Planning: DeTrust’s delayed signature functionality is particularly useful for those planning estates or managing business ownership transitions over time, offering control and security that is hard to match with other wallets.
- DeTrust focuses on providing a frictionless multisig experience by streamlining the onboarding process and reducing the steps needed to set up and manage multisignature wallets. The design prioritizes ease of use, ensuring that teams, organizations, and individuals can quickly implement multisig security without the steep learning curve.
- As with Gnosis Safe, DeTrust maintains the highest security standards for multisignature wallets. However, the added control flexibility means that DeTrust users can enjoy the same level of security with even more options for managing asset distribution and access control.
DeTrust multisig wallet is highly versatile and offers security benefits across a wide range of applications, making it a top choice for crypto users, businesses, and investors. Below are some of the most popular ways people and organizations use DeTrust multisig wallet:
1. Crypto Teams & Investment Funds
Multisig wallets are essential for cryptocurrency teams and investment funds that manage large holdings. By requiring multiple approvals, these wallets protect against unauthorized withdrawals or fraud by ensuring that no single person has full control over the funds. This is especially important for teams handling high-value transactions or large investments in the volatile crypto market.
2. Family Wealth Management
Families with significant cryptocurrency holdings often use multisig wallets for secure wealth management. Multiple family members can hold keys, allowing them to jointly manage funds and ensuring that important financial decisions, such as inheritance or large transfers, are made collectively.
3. Education Funding for Children
Parents or guardians can set up a multisig wallet to manage an education fund in crypto for their children. This ensures that funds are used exclusively for educational purposes, as both parents or multiple trusted parties must agree to release the money. It’s a smart solution for long-term savings in crypto.
4. Trust Funds with Crypto Flexibility
Multisig wallets provide an excellent solution for managing trust funds in cryptocurrency. Trustees can set up wallets requiring signatures from multiple parties before any transactions are made, ensuring the integrity and purpose of the fund while taking advantage of the flexibility and growth potential of crypto assets.
5. Corporate Treasury Management
For businesses, multisig wallets provide an additional layer of security for managing corporate funds in cryptocurrency. By requiring approval from multiple executives or financial officers, the company ensures that no one person can misappropriate funds or make unauthorized transactions, safeguarding corporate assets.
6. Succession Planning for Executives
Companies and individuals can integrate multisig wallets into their succession planning. If a key executive or stakeholder becomes incapacitated or passes away, other signers can step in to ensure that the business’s crypto assets remain secure and accessible, facilitating a smooth transition.
7. Charitable Donations & Philanthropy
Charities and non-profit organizations handling crypto donations can use multisig wallets to improve transparency and security. Requiring multiple signatures ensures that donations are used appropriately, preventing any single trustee or staff member from accessing or misusing funds.
8. Investment Clubs & DAOs (Decentralized Autonomous Organizations)
In decentralized communities like investment clubs or DAOs, multisig wallets enable collective governance of pooled crypto assets. This means that decisions on investments and fund management can only be made with the approval of multiple members, ensuring that the process is transparent and democratic.
9. Crypto Inheritance Solutions
Multisig wallets offer a secure way to manage crypto inheritance. You can distribute keys among trusted family members or legal professionals, ensuring that your heirs can access your cryptocurrency upon your passing, while still keeping your assets secure during your lifetime.
10. Emergency Access Protocols
In cases of emergencies, multisig wallets provide an effective backup solution. For example, if one keyholder is unavailable or loses their key, others can still access the funds as long as the required number of signatures is met. This is crucial for businesses or individuals who want to maintain access to their crypto in unforeseen circumstances.
11. Secure Partner Investments
Business partnerships and joint ventures often rely on multisig wallets to ensure that all parties are involved in investment decisions. This setup guarantees that funds cannot be moved or accessed by one partner without the consent of the others, protecting shared investments.
12. Real Estate Transactions in Crypto
For real estate purchases using cryptocurrency, multisig wallets provide security and trust between the buyer, seller, and any intermediaries. With multisig, funds can be held securely in escrow and only released when all parties agree that the conditions of the transaction have been met.
13. Crypto Payroll Systems
DeTrust Multisig wallet is a secure solution for companies that pay employees in cryptocurrency. By requiring multiple signatures, businesses can ensure that payroll disbursements are reviewed and approved by the appropriate stakeholders, reducing the risk of unauthorized transactions or payroll errors.
1. Crypto Teams & Investment Funds
Multisig wallets are essential for cryptocurrency teams and investment funds that manage large holdings. By requiring multiple approvals, these wallets protect against unauthorized withdrawals or fraud by ensuring that no single person has full control over the funds. This is especially important for teams handling high-value transactions or large investments in the volatile crypto market.
2. Family Wealth Management
Families with significant cryptocurrency holdings often use multisig wallets for secure wealth management. Multiple family members can hold keys, allowing them to jointly manage funds and ensuring that important financial decisions, such as inheritance or large transfers, are made collectively.
3. Education Funding for Children
Parents or guardians can set up a multisig wallet to manage an education fund in crypto for their children. This ensures that funds are used exclusively for educational purposes, as both parents or multiple trusted parties must agree to release the money. It’s a smart solution for long-term savings in crypto.
4. Trust Funds with Crypto Flexibility
Multisig wallets provide an excellent solution for managing trust funds in cryptocurrency. Trustees can set up wallets requiring signatures from multiple parties before any transactions are made, ensuring the integrity and purpose of the fund while taking advantage of the flexibility and growth potential of crypto assets.
5. Corporate Treasury Management
For businesses, multisig wallets provide an additional layer of security for managing corporate funds in cryptocurrency. By requiring approval from multiple executives or financial officers, the company ensures that no one person can misappropriate funds or make unauthorized transactions, safeguarding corporate assets.
6. Succession Planning for Executives
Companies and individuals can integrate multisig wallets into their succession planning. If a key executive or stakeholder becomes incapacitated or passes away, other signers can step in to ensure that the business’s crypto assets remain secure and accessible, facilitating a smooth transition.
7. Charitable Donations & Philanthropy
Charities and non-profit organizations handling crypto donations can use multisig wallets to improve transparency and security. Requiring multiple signatures ensures that donations are used appropriately, preventing any single trustee or staff member from accessing or misusing funds.
8. Investment Clubs & DAOs (Decentralized Autonomous Organizations)
In decentralized communities like investment clubs or DAOs, multisig wallets enable collective governance of pooled crypto assets. This means that decisions on investments and fund management can only be made with the approval of multiple members, ensuring that the process is transparent and democratic.
9. Crypto Inheritance Solutions
Multisig wallets offer a secure way to manage crypto inheritance. You can distribute keys among trusted family members or legal professionals, ensuring that your heirs can access your cryptocurrency upon your passing, while still keeping your assets secure during your lifetime.
10. Emergency Access Protocols
In cases of emergencies, multisig wallets provide an effective backup solution. For example, if one keyholder is unavailable or loses their key, others can still access the funds as long as the required number of signatures is met. This is crucial for businesses or individuals who want to maintain access to their crypto in unforeseen circumstances.
11. Secure Partner Investments
Business partnerships and joint ventures often rely on multisig wallets to ensure that all parties are involved in investment decisions. This setup guarantees that funds cannot be moved or accessed by one partner without the consent of the others, protecting shared investments.
12. Real Estate Transactions in Crypto
For real estate purchases using cryptocurrency, multisig wallets provide security and trust between the buyer, seller, and any intermediaries. With multisig, funds can be held securely in escrow and only released when all parties agree that the conditions of the transaction have been met.
13. Crypto Payroll Systems
DeTrust Multisig wallet is a secure solution for companies that pay employees in cryptocurrency. By requiring multiple signatures, businesses can ensure that payroll disbursements are reviewed and approved by the appropriate stakeholders, reducing the risk of unauthorized transactions or payroll errors.
Yes, DeTrust multisig wallet isn’t just for businesses. Individuals can use it for personal security, especially if they hold significant amounts of cryptocurrency. By setting up multiple keys, like one for your phone and one for your computer, you can safeguard your assets from theft and hacking attempts.
Multisig enhances security by requiring approval from multiple parties before executing a transaction. Even if one key is compromised, the transaction cannot proceed without the additional required keys. This multi-signature process prevents unauthorized transfers and adds a layer of accountability.
To set up a multisig wallet, you’ll need a wallet provider that supports multisig functionality, DeTrust Wallet is the best option. During the setup, you can specify how many keys (or signatures) are required for transactions. You’ll then distribute the private keys to trusted parties or devices.
If you lose one key, the transaction can still be authorized if the required number of signatures (e.g., 2 out of 3) is met. However, if enough keys are lost and you can’t meet the signature threshold, access to the funds could be permanently locked. It’s crucial to back up all keys and store them securely.
The cost of using a multisig wallet typically depends on the platform or service provider. Some may charge additional fees for setting up and managing multisig features, but many wallets offer it for free. The transaction fees on the blockchain network remain the same, regardless of whether you use a multisig or a single-signature wallet.
Not all blockchains support multisig functionality. While Bitcoin and Ethereum are among the most popular networks that offer multisig, some other blockchain platforms may not natively support it. Always check the compatibility of your blockchain with multisig wallets before setting up one.
While both multisig wallets and smart contracts enhance the security and automation of cryptocurrency transactions, they serve different purposes. A multisig wallet requires multiple private keys to authorize a transaction, while a smart contract is a self-executing contract with predefined conditions. Multisig wallets focus on securing the transaction process, while smart contracts automate agreements and business logic.
Becoming a Keeper in the UBD Network is a straightforward process that allows you to earn rewards while contributing to the security and maintenance of the ecosystem. Here’s a step-by-step guide:
1. Acquire UBDN Tokens
To qualify as a Keeper, you must hold UBDN tokens, the utility token of the UBD Network. The minimum requirement to participate in the network’s Epochs is 1024 UBDN tokens. This amount may decrease due to the network's halving process, which reduces the required number of tokens at key intervals.
2. Participate in Epochs
An Epoch is a 30-day cycle in which Keepers must maintain their UBDN tokens in their wallet without moving them. By doing so, they contribute to the overall security and stability of the UBD Network. Keepers participate in these cycles to receive rewards based on their token holdings during the Epoch.
3. Earn Rewards
At the end of each Epoch, Keepers receive their share of the network’s profit, including 50% of maintenance fees and transaction commissions. The rewards are distributed based on the number of tokens held relative to the total UBDN in the current Epoch. The larger your UBDN holding, the greater your share of the rewards.
4. Benefit from the Halving Mechanism
The halving mechanism reduces the number of UBDN tokens required to participate in the Epochs at specific milestones. This allows more users to join as Keepers over time, making it easier to participate and benefit from rewards.
5. Contribute to Network Security
By becoming a Keeper, you help maintain the infrastructure of the UBD Network, which is vital for its long-term stability. As a Keeper, you also ensure the proper functioning of the DeTrust smart contract system, which operates transparently and securely without intermediaries.
Why Become a UBDN Keeper?
1. Acquire UBDN Tokens
To qualify as a Keeper, you must hold UBDN tokens, the utility token of the UBD Network. The minimum requirement to participate in the network’s Epochs is 1024 UBDN tokens. This amount may decrease due to the network's halving process, which reduces the required number of tokens at key intervals.
2. Participate in Epochs
An Epoch is a 30-day cycle in which Keepers must maintain their UBDN tokens in their wallet without moving them. By doing so, they contribute to the overall security and stability of the UBD Network. Keepers participate in these cycles to receive rewards based on their token holdings during the Epoch.
3. Earn Rewards
At the end of each Epoch, Keepers receive their share of the network’s profit, including 50% of maintenance fees and transaction commissions. The rewards are distributed based on the number of tokens held relative to the total UBDN in the current Epoch. The larger your UBDN holding, the greater your share of the rewards.
4. Benefit from the Halving Mechanism
The halving mechanism reduces the number of UBDN tokens required to participate in the Epochs at specific milestones. This allows more users to join as Keepers over time, making it easier to participate and benefit from rewards.
5. Contribute to Network Security
By becoming a Keeper, you help maintain the infrastructure of the UBD Network, which is vital for its long-term stability. As a Keeper, you also ensure the proper functioning of the DeTrust smart contract system, which operates transparently and securely without intermediaries.
Why Become a UBDN Keeper?
- Rewards: Earn rewards from UBDN by simply holding your tokens during the Epochs.
- Security: Your participation strengthens the network’s decentralized infrastructure.
- Growing opportunities: As the halving process progresses, more participants can join and benefit from lower entry requirements.
The DeTrust Multisig Wallet is a versatile tool for managing crypto assets with a focus on flexible control and collaboration. Users can leverage multisignature approvals for use cases like business treasury management, investment clubs, and inheritance planning. The wallet’s features, such as Delayed Transfer of Signing Rights, allow users to automate transitions of asset control, ideal for estate planning and corporate succession. Additionally, DeTrust provides a streamlined interface, making it easy for both individuals and organizations to manage complex asset distributions or escrow agreements.
A Multisignature Wallet requires multiple approvals before executing transactions, making it a highly flexible tool for collaborative scenarios. For instance, investment clubs or DAOs (Decentralized Autonomous Organizations) can use multisig wallets to ensure that decisions about funds are made collectively. This ensures that no single member can act unilaterally, which is ideal for groups managing joint investments or large funds. Multisig wallets can also be used in real estate transactions, ensuring that funds are only released when all parties agree, making it a valuable tool for secure escrow services.
The UBDN token powers the DeTrust ecosystem and is central to governance, participation, and rewards. Holders of UBDN tokens can participate in network governance, vote on critical platform changes, and contribute to the decentralized management of the platform. Additionally, UBDN tokens unlock opportunities for users to become Keepers, where they can earn rewards for participating in Epochs and helping maintain network integrity. UBDN also plays a role in staking and securing assets for automated fund distributions in scenarios like trust funds and education funding.
The UBD token is the reward token within the UBD Network and DeTrust ecosystem. It is distributed as rewards for useful actions performed within the platform, such as securing the network through Keeper participation or engaging in various ecosystem activities like staking, providing liquidity, or using DeTrust's smart contract features.
A Keeper in the DeTrust ecosystem is more than just a security role; it’s an active participant in ensuring the platform runs smoothly and sustainably. Keepers hold UBDN tokens and contribute by participating in Epochs, where they help secure the network. In return, they earn rewards based on their token holdings and participation. Becoming a Keeper offers a pathway to earning rewards through decentralized participation in the platform, while also ensuring access to governance voting. Scenarios where Keepers thrive include corporate governance, where businesses require trusted individuals to manage funds in a secure, distributed manner.
An Epoch is a 30-day cycle during which Keepers actively participate in securing the network. At the end of each Epoch, rewards are distributed based on the performance and activity of the network. The reward structure provides users with a predictable, recurring opportunity to earn rewards while helping maintain the DeTrust platform.
A consecutive period that lasts while the market is absorbing 1 000 000 UBDN. A Round in the DeTrust ecosystem represents a series of Epochs, typically leading to a halving event or significant network update. Rounds allow for incremental adjustments in token requirements or rewards distribution. For users, this structure means the platform adapts to changing needs over time. For example, corporate treasuries or DAOs may adjust their involvement as token requirements lower after each Round, making participation more accessible and aligned with their financial strategies.
A period that includes a certain number of rounds before the Halving occurs. An Era is a larger unit of time within the DeTrust ecosystem, often spanning multiple Rounds and marking significant changes or upgrades to the network. Users experience shifts in governance, such as new token distributions or changes in rewards structure, making Eras pivotal moments for long-term investors and participants in governance. For instance, an Era may introduce new features for businesses managing decentralized funds or families automating inheritance processes, allowing the platform to evolve with user needs.
Halving is special process of reducing the required amount of UBDN for Keepers to participate in Epochs where the number of UBDN tokens required to participate as a Keeper is reduced by half. This mechanism is designed to encourage greater participation by lowering entry barriers, allowing more users to become Keepers and benefit from rewards. Halving events create new opportunities for users involved in long-term staking or managing decentralized trust funds, where a gradual reduction in required tokens promotes broader user involvement without compromising the platform’s decentralization or security.