If your business is making single-signature payments, you are currently paying approximately $3.32 per transaction in mining fees.
If your business is making multi-signature payments, you are paying between 23% to 63% more i.e. between $4.08 and $5.41 per transaction! The exact surcharge depends on the amount of data the multiple signatures require and on network congestion.
Sending 10,000 transactions a month?
For those sending 10,000 transactions per month (~ 14 per hour), a multi-sig setup is costing between $7,630 to $20,920 more in mining fees alone. If we were to see mining fees climb back into the $10 price range, the added mining costs of the same setup could escalate past $60,000 per month.
As a business, how can we cut costs?
Contrary to multi-sig technology, multiparty computation (MPC) produces single signatures which do not require additional space in a block. That means a saving of 23% to 63% in space and therefore in mining fees. It also means not bidding up mining fees for faster confirmation times.
Thresh0ld, our Enterprise Grade Transaction Management platform leverages MPC technology to give your business stakeholders the peace of mind that your transactions are secure while keeping costs low.
Interested in making your business more efficient?