Multisig wallet

Frequently asked question

Is the multisig technology open source and audited?

Yes, this new wallet standard is open source and can be implemented by any wallet. The TSS library has been audited by Kudelski.

Is there an emergency recovery for vaults in case the app is no longer available?

In Thorwallet the private key never exists, improving the security by timesfold since there is no private key to be extracted or stolen.

It is possible though to recombine the vault shares of a vault and generate the private key to extract it and use it in other wallets. Scripts are created to allow users to do this if the Thorwallet app ever goes offline. Follow those steps.

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Are Thorwallet Vaults compatible with Vultisig Vaults?

Yes, the vaults are compatible. The vault standard is developed by Vultisig, THORWallet enhances the experience by integrating cross-chain swaps, DeFi pools, and other crypto management features, making it a comprehensive solution for active users.

How do I set up a Cold Vault in THORWallet?

For complete setup instructions, refer to the Cold Vault Setup Guide.

How do I set up a Hot Vault in THORWallet?

To set up a Hot Vault in THORWallet, follow the step-by-step instructions provided in our Hot Vault Setup Guide.

How many devices can I use for Cold Vaults?

You can add as many devices as you want when setting up a Cold Vault. For example, if you set up the vault with 3 devices, 2 out of 3 devices (67% threshold) will be required to sign the transaction before it can be broadcasted.

How do Cold Vaults work?

Cold Vaults are server-independent and utilize a n of m signing rule, which means you can configure multiple devices for the vault (e.g., 3 devices). In this case, at least 2 devices must sign the transaction before it can be broadcast. Each device has its own unique vault share, which should be stored securely in separate locations.

The vaults will be a m-of-n threshold, where m is at least 2/3rds of n, and no maximum number of n devices. The more devices you use, the longer it will take to process any transactions.

How should I backup my vault shares?

All backup files of each device should be stored in separate locations to protect your assets.This ensures that even if one location is compromised, your assets remain secure.

What are Vaults in THORWallet?

Vaults in THORWallet are a new standard of multi-signature wallets created by Vultisig, integrated into Thorwallet for enhanced security. There are two types of vaults: Hot Vaults and Cold Vaults. These vaults offer advanced protection by requiring multiple signatures to authorize transactions.

How do Hot Vaults work?
In a Hot Vault, you have two vault shares:

User-side share: Stored on your device.
Server-side share: Stored on the server (sent to you via email as backup).

When using Fast Sign in Hot Vaults, your device signs the transaction (user-side share), and the server automatically signs it (server-side share). If the server is offline, you can import the server-side share (sent via email) onto another device and perform a paired sign to complete the transaction.

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What happens if I lose my recovery phrase?

If you lose your recovery phrase, you will not be able to recover your funds. Always store it securely.

Do I own my private keys with THORWallet?

Yes, you have full ownership of your private keys. THORWallet does not store them, ensuring you have complete control over your assets.

Additionally, THORWallet offers a vault (multisig wallet) option, providing an extra layer of security. This feature requires multiple approvals to authorize transactions (with multiple devices), making it ideal for enhanced protection and shared access.

THORWallet has no access to your vaults—only you and your designated signers (devices) can approve transactions, ensuring complete decentralization and self-custody.

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