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Schnorr signature
A Schnorr signature is a type of digital signature, standardised for Bitcoin in BIP-340, that proves a private key approved a transaction. It uses the same curve as Bitcoin's older ECDSA signatures, is always 64 bytes, and lets several keys combine into one ordinary-looking signature.
What it means for you. Schnorr signatures apply only to Taproot outputs; coins held in older Bitcoin address types still sign with ECDSA. A Taproot payment approved by several people can look on chain like a payment from a single key, so a block explorer cannot always show how a coin was controlled.
Sources: BIP-340: Schnorr Signatures for secp256k1, BIP-341: Taproot · checked 4 October 2026
Multisig
Multisig (multi-signature) is a setup where moving funds needs approval from several keys instead of one, for example any 2 of 3. Each key can be held on a different device or by a different person.
What it means for you. One stolen or lost key is not enough to move or lose the funds, but losing more keys than the setup can spare locks them permanently. Record which keys exist, who holds each, and the full wallet setup needed to restore it, not only the seed phrases.
Sources: BIP-11: M-of-N standard transactions, bitcoin.org: Secure your wallet, Bitcoin developer guide: Transactions · checked 4 October 2026