The higher the number of keys required to spend the funds (i.e., the higher m is in m-of- n), the more difficult it would be for an attacker to successfully steal your funds, however the more cumbersome actually using that wallet becomes. The private keys needed to spend from a wallet can be spread across multiple machines, eliminating any one of those machines as a single point of failure, with the rationale that malware and hackers are unlikely to infect all of them. These parties can be people, institutions or programmed scripts. The idea is that Bitcoins become "encumbered" by providing addresses of multiple parties, thus requiring cooperation of those parties in order to do anything with them. These are often referred to as m-of- n transactions. However, the Bitcoin network supports much more complicated transactions that require the signatures of multiple people before the funds can be transferred. Standard transactions on the Bitcoin network could be called "single-signature transactions" because transfers require only one signature - from the owner of the private key associated with the Bitcoin address. 6.1 Creating a multi-signature address with Bitcoin-Qt.
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