Klaytn Docs Archive
Getting StartedBuild a dAppNode OperationDeveloper Hub
  • Klaytn Docs
  • -
    • Klaytn Overview
      • Why Klaytn
      • Klaytn Design
        • Consensus Mechanism
        • Accounts
        • Transactions
          • Basic
          • Fee Delegation
          • Partial Fee Delegation
          • Ethereum
        • Computation
          • Klaytn Smart Contract
          • Execution Model
          • Computation Cost
            • Computation Cost (Previous docs)
          • Klaytn Virtual Machine
            • Klaytn Virtual Machine (Previous docs)
        • Storage
          • State Migration
          • StateDB Live Pruning
        • Transaction Fees
          • Transaction Fees (Previous docs)
        • Klaytn native coin - KLAY
        • Token Economy
        • Governance
        • Multi-Channel
        • KNI
      • Scaling Solutions
    • Getting Started
      • Deploying Smart Contract Using Foundry
      • Deploying Smart Contract Using Hardhat
      • Deploying Smart Contract Using Thirdweb
      • Deploying Smart Contract Using KEN
        • Launch an Endpoint Node
        • Top up your Account
        • Install Development Tools
        • Deploy a Smart Contract
        • Check the Deployment
        • Account Management
          • Creating Accounts
          • Managing Accounts
      • Development Environment
      • Getting KLAY
    • Smart Contract
      • Solidity - Smart Contract Language
      • Precompiled Contracts
        • Precompiled Contracts (Previous docs)
      • IDE and Tools
        • Truffle
      • Sample Contracts
        • KlaytnGreeter
        • ERC-20
          • 1. Writing ERC-20 Smart Contract
          • 2. Deploying Smart Contract
          • 3. Interacting with ERC-20 token from Klaytn Wallet
        • ERC-721
          • 1. Writing ERC-721 Smart Contract
          • 2. Deploying Smart Contract
      • Testing Guide
      • Deployment Guide
      • Klaytn Compatible Tokens
      • Porting Ethereum Contract
    • Run a Node
      • Deployment
        • Endpoint Node
          • System Requirements
          • Installation Guide
            • Download
            • Installation Guide
            • Configuration
            • Startup the EN
            • Testing the Installation
          • ken CLI commands
          • JSON-RPC APIs
        • Core Cell
          • System Requirements
          • Network Configuration
          • Installation Guide
            • Download
            • Before You Install
            • Consensus Node Setup
              • Installation Guide
              • Configuration
              • Startup the CN
            • Proxy Node Setup
              • Installation Guide
              • Configuration
              • Startup the PN
            • Testing the Core Cell
          • Monitoring Setup
          • H/A Setup
        • Service Chain
          • Getting Started
            • Setting up a 4-node Service Chain
            • Connecting to Baobab
            • Cross-Chain Value Transfer
            • HA(High Availability) for ServiceChain
            • Nested ServiceChain
            • Value Transfer between Sibling ServiceChains
          • Reference Manuals
            • System Requirements
            • Download
            • SCN User Guide
              • Installation
              • Configuration
              • Starting/Stopping SCN
              • Checking Node Status
              • kscn commands
              • homi commands
            • SPN/SEN User Guide
              • Installation
              • Configuration
              • Starting/Stopping Node
              • Checking Node Status
            • Bridge Configuration
            • Anchoring
            • KAS Anchoring
            • Value Transfer
            • Configuration Files
            • Log Files
            • Genesis JSON
            • Upgrade & Hard Fork
          • How-To Guides
        • Download Node Packages
          • v1.12.0
          • v1.11.1
          • v1.11.0
          • v1.10.2
          • v1.10.1
          • v1.10.0
          • v1.9.1
          • v1.9.0
          • v1.8.4
          • v1.8.3
          • v1.8.2
          • v1.8.1
          • v1.8.0
          • v1.7.3
          • v1.7.2
          • v1.7.1
          • v1.7.0
          • v1.6.4
          • v1.6.3
          • v1.6.2
          • v1.6.1
          • v1.6.0
          • v1.5.3
          • v1.5.2
          • v1.5.1
          • v1.5.0
          • v1.4.2
          • v1.4.1
          • v1.4.0
          • v1.3.0
          • v1.2.0
          • v1.1.1
          • v1.0.0
          • v0.9.6
          • v0.8.2
    • Operation Guide
      • Configuration
      • Node Log
      • Log operation
      • Errors & Troubleshooting
      • Klaytn Command
      • Chaindata Change
      • Chaindata Migration
    • dApp Developers
      • JSON-RPC APIs
        • API references
          • eth
            • Caution
            • Account
            • Block
            • Transaction
            • Config
            • Filter
            • Gas
            • Miscellaneous
          • klay
            • Account
            • Block
            • Transaction
              • Working with Klaytn Transaction Types
            • Configuration
            • Filter
            • Gas
            • Miscellaneous
          • net
          • debug
            • Logging
            • Profiling
            • Runtime Tracing
            • Runtime Debugging
            • VM Tracing
            • VM Standard Tracing
            • Blockchain Inspection
          • admin
          • personal
          • txpool
          • governance
        • Service Chain API references
          • mainbridge
          • subbridge
        • Transaction Error Codes
      • RPC Service Providers
        • Public Endpoints
      • SDK & Libraries for interacting with Klaytn Node
        • caver-js
          • Getting Started
          • Sending a sample transaction
          • API references
            • caver.account
            • caver.wallet
              • caver.wallet.keyring
            • caver.transaction
              • Basic
              • Fee Delegation
              • Partial Fee Delegation
            • caver.rpc
              • caver.rpc.klay
              • caver.rpc.net
              • caver.rpc.governance
            • caver.contract
            • caver.abi
            • caver.kct
              • caver.kct.kip7
              • caver.kct.kip17
              • caver.kct.kip37
            • caver.validator
            • caver.utils
            • caver.ipfs
          • caver-js ~v1.4.1
            • Getting Started (~v1.4.1)
            • API references
              • caver.klay
                • Account
                • Block
                • Transaction
                  • Legacy
                  • Value Transfer
                  • Value Transfer Memo
                  • Account Update
                  • Smart Contract Deploy
                  • Smart Contract Execution
                  • Cancel
                • Configuration
                • Filter
                • Miscellaneous
              • caver.klay.net
              • caver.klay.accounts
              • caver.klay.Contract
              • caver.klay.KIP7
              • caver.klay.KIP17
              • caver.klay.abi
              • caver.utils (~v1.4.1)
            • Porting from web3.js
        • caver-java
          • Getting Started
          • API references
          • caver-java ~v1.4.0
            • Getting Started (~v1.4.0)
            • Porting from web3j
        • ethers.js
        • web3.js
      • Tutorials
        • Klaytn Online Toolkit
        • Fee Delegation Example
        • Count DApp
          • 1. Environment Setup
          • 2. Clone Count DApp
          • 3. Directory Structure
          • 4. Write Smart Contract
          • 5. Frontend Code Overview
            • 5-1. Blocknumber Component
            • 5-2. Auth Component
            • 5-3. Count Component
          • 6. Deploy Contract
          • 7. Run App
        • Klaystagram
          • 1. Environment Setup
          • 2. Clone Klaystagram DApp
          • 3. Directory Structure
          • 4. Write Klaystagram Smart Contract
          • 5. Deploy Contract
          • 6. Frontend Code Overview
          • 7. FeedPage
            • 7-1. Connect Contract to Frontend
            • 7-2. UploadPhoto Component
            • 7-3. Feed Component
            • 7-4. TransferOwnership Component
          • 8. Run App
        • Building a Buy Me a Coffee dApp
          • 1. Project Setup
          • 2. Creating a BMC Smart Contract
          • 3. Testing the contract using scripts
          • 4. Deploying BMC Smart contract
          • 5. Building the BMC Frontend with React and Web3Onboard
          • 6. Deploying Frontend code on IPFS using Fleek
          • 7. Conclusion
        • Migrating Ethereum App to Klaytn
        • Connecting MetaMask
        • Connecting Remix
        • Verifying Smart Contracts Using Block Explorers
      • Developer Tools
        • Wallets
          • Kaikas
          • Klaytn Wallet
          • Klaytn Safe
            • Klaytn Safe Design
            • Create a Safe
            • Add assets
            • Send assets
            • Contract Interaction
            • Transaction Builder
            • Points to Note
            • Frequently Asked Questions
          • SafePal S1
          • Wallet Libraries
            • Web3Auth
            • Web3Modal
            • Web3-Onboard
            • Particle Network
        • Oracles
          • Orakl Network
          • Witnet
          • SupraOracles
        • Indexers
          • SubQuery
        • Cross-chain
          • LayerZero
        • Block Explorers
          • Klaytnscope
          • Klaytnfinder
        • Klaytn Contracts Wizard
    • Glossary
  • ---
    • Klaytn Hard Fork History
    • Klaytn 2.0
      • Metaverse Package
      • Finality and Improvements
      • Ethereum Compatibility
      • Decentralizing Governance
      • Massive Eco Fund
    • FAQ
    • Open Source
    • Terms of Use
    • Languages
  • ℹ️Latest Klaytn Docs
Powered by GitBook
On this page
  • What are MultiSig Wallets?
  • What is Klaytn Safe?
  • Benefits
  1. -
  2. dApp Developers
  3. Developer Tools
  4. Wallets

Klaytn Safe

PreviousKlaytn WalletNextKlaytn Safe Design

Last updated 2 years ago

In a typical blockchain platform like Klaytn, most users are familiar with single key wallet systems such as Kaikas and MetaMask, which are also known as externally owned accounts (EOA). These accounts make use of traditional key pairs, i.e., public keys and private keys, which isn’t ideal as the private key creates a single point of failure.

This makes EOAs unsuitable for organisational use, as a compromised private key could lead to the organisation losing all of its crypto funds—such was the case in the where $162.5 million was lost.

This is where multisig wallets like Klaytn Safe come in. Unlike single key wallets, a multi-sig wallet needs multiple parties' private keys to sign and execute a transaction, removing the single point of failure and providing greater security for organisational use cases.

What are MultiSig Wallets?

As the name implies, a multi-signature wallet is a digital wallet that requires two, three, or more private keys from different sources to confirm and execute a crypto transaction.

For example, you can imagine a multi-signature wallet as a safe that has three locks. The three keys required to open the safe are with three different individuals, thus requiring their joint consent to open.

Here are the main benefits of multisig wallets:

  • Store assets/funds securely: Companies and protocols can store their funds safely without worrying about a private key leak or one bad actor moving funds without authorization.

  • Enable decentralised decision making: Companies and business executives can make on-chain decisions on which transactions to execute.

  • Two-factor authentication: With the help of multisig wallets, businesses and individuals can make sure that only those with access to the necessary keys can execute transactions.

Next, we will dive into Klaytn Safe, a multisig wallet for Klatyn, and how to use it to manage your funds and transactions.

What is Klaytn Safe?

Klaytn Safe is a multisig wallet for the Klaytn ecosystem. It is a fork of the well-known multisig wallet .

Benefits

  • Store and transfer KLAY and KCTs (KIP7, KIP17): Users can deposit and transfer cryptocurrencies (KLAY) and tokens (fungible or non-fungible).

  • Flexibility and security: The confirmation threshold gives users more flexibility and control over which transactions should be executed, and removes the single point of failure.

  • Safe apps: Klaytn Safe's functionality is expanded by the addition of custom apps that enable batch transactions and interaction with other dApps. One example of this safe app is the Transaction Builder which combines and executes multiple transactions as a batch transaction.

  • Account recovery: In the event of lost keys, Klaytn Safe accounts can be recovered as long as the confirmation threshold can still be met by the remaining keys.

Wintermute hack
Gnosis Safe