Cryptocurrency researcher Hans Schmiedel, operator of Seaside Staking service for ADA holders, explains benefits of Mithril mechanism
- Here’s how staking can be useful in multi-sig instruments
- Cardano’s dApps ecosystems print new records
With Mithril instrument, Cardano (ADA) accounts can be integrated into the most secure and decentralized multi-signature scheme. “Cryptographic magic” can bring staking into multi-signature transactions.
Here’s how staking can be useful in multi-sig instruments
According to the explanation shared by Mr. Schmiedel, Mithril works not unlike existing multi-signature solutions. In multi-sig systems, transactions need to be approved by the majority of participants.
What is Mithril @IOHK_Charles always mentions?
Short answer: It’s Pyrros Chaidos and Aggelos Kiayias’ proposal for a Stake-based Threshold Multisignature.