Unchained has led the industry of collaborative multisig bitcoin services for nearly a decade. We’ve built products based specifically on 2-of-3 multisig quorums, which represent the least complicated multisig structure for holding bitcoin without single points of failure. We believe that 2-of-3 is the best choice for most people in most situations, while larger quorums introduce unnecessary complexity.

In our introductory multisig article, we created a multisig pyramid diagram to illustrate this concept. We pointed out that 2-of-3 is typically ideal, 1-of-N and N-of-N quorums fail to eliminate single points of failure, and hinted that some quorums beyond 2-of-3 could be useful for individuals or businesses with specific or elaborate needs:

Now that Unchained offers support for a larger range of multisig quorum options, it’s worthwhile to conduct a deeper analysis into the strengths and weaknesses of the various choices. This article will take a deep dive into the tradeoffs, so that you can make an informed decision about your bitcoin custody security model. We will begin by introducing a few concepts, such as quorum categories, key categories, sovereign access, and agent failsafes.

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