RE: Gridcoin Foundation Wallet is now Multi-Sig!

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Gridcoin Foundation Wallet is now Multi-Sig!

in gridcoin •  6 years ago  (edited)

Few quick questions:

  1. Will the funds or part of it help to secure the network or will it be in a cold storage?
  2. Shall we use it for donations? Or to use it to “burn” some coins?
gridcoin
6 years ago by

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      ·  6 years ago 

    1. No a multisig address cannot stake as a single client cannot sign for staking. the 3 multisig keys are separate and neither of the other multisig key holders know each others keys. Essentially in a cold storage without cold storage. needs 2 of 3 signers for a transaction to leave the foundation multisig address

    2. The funds are used for various tasks and some of the funds can be used based on community votes as well.

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