Copay introduction
The multi-signature wallet released by BitPay allows multiple people to hold it together, and the multi-signature makes the transaction established. BitPay claims to want Copay to become a tool for mainstream consumption as well as authorized spending by businesses. The goal of Copay is to solve the security of private key storage. According to a previous report by ChainNews, BitPay co-founder and CEO Stephen Pair said that the company hopes that multi-signature technology will become a daily transaction standard, not only increasing the storage security of Bitcoin, but also creating an expenditure approval process. Through this tool, the company's managers can authorize the signature of the expenditure, all in order to make Bitcoin transactions more secure. The design concept of Copay originates from the security mechanism of Internet transactions using BitPay. The company has worked hard to make this tool a mainstream and enterprise-adopted secure wallet. Copay establishes a point-to-point connection with wallet users. Using this public wallet, each user needs to create their own private key and share part of their private key with partners who use Copay together. Up to 12 co-holders are allowed, and 4 signatories to make the transaction.