"Most wallets require a single private key to sign a valid Bitcoin transaction. Multi-signature Bitcoin wallets, in turn, require more than one private key to sign a valid Bitcoin transaction, often a threshold, such as two of three or three of five. This lock, so to speak, is enforced by the full power of the Bitcoin network, making it one of the most secure ways to store wealth today and probably in history."
"Nunchuk told Bitcoin Magazine they help secure over a billion dollars worth of bitcoin today, but that was not always the case. Born out of Bitcoin idealism in the thick of the COVID pandemic, Nunchuk was built to facilitate advanced security wallets that use multi-signature in the defense of self-custody. In 2022, as a young start-up, these ideals were put to the test, as activists of the Canadian Freedom Convoy Protests decided to use Nunchuk to secure bitcoins donated to the protest against COVID repression."
Nunchuk is an open-source, multi-signature mobile wallet launched in 2020 that enables advanced bitcoin security, self-custody, and inheritance. The app enables users to set up high-security wallets that require multiple private keys to authorize transactions, commonly using thresholds like two-of-three or three-of-five. Multi-signature enforcement by the Bitcoin network provides strong protection for stored value. Nunchuk secures over a billion dollars worth of bitcoin. The project emerged during the COVID pandemic to support self-custody ideals and was used in 2022 to secure donations for the Canadian Freedom Convoy protests, receiving over 20 bitcoins into a multi-signature wallet.
Read at Bitcoin Magazine
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