[2016-8-16] Bitcoin security is more than multisig

[newsatbravenewcoin]

Following the Bitfinex hack it’s become apparent that people don’t really understand bitcoin’s multisig feature. There seems to be a lot of confusion over what multisig is and isn’t, what it inherently does or does not do. This article aims to clarify some of the most common misconceptions, explain how multisig actually works today, why policy controls aren’t a substitute for organizational security, and what you can do to protect yourself.

http://bravenewcoin.com/news/bitcoin-security-is-more-than-multisig

[Kaneki]

When multisig is used as part of an overall security plan, it can provide additional protection against embezzlement, mistake, loss, fraud, single point of failure, by requiring multiple parties or multiple devices (multi-factor multi-sig) to approve a transaction.