Multisig address

A multisig (multi-signature) address is a Bitcoin address that requires signatures from multiple private keys to authorize spending. Instead of relying on a single private key, a multisig setup can require, for example, signatures from 2 out of 3 private keys (called 2-of-3 multisig). Multisig addresses are often used for corporate wallets, joint accounts, or escrow arrangements to reduce the risk of theft or accidental loss. (Note: even if only a subset of keys is needed to spend funds, all the public keys in the redeem script are required to reconstruct the multisig address, so backing up the full redeem script containing all public keys is important.)