What is an approver quorum?

Approvers provide additional security for your business or trust account.

Approver quorums are enabled by default on business and trust accounts with at least two users who have approval permissions. An approval team must authorize security-sensitive operations like creating a bitcoin transaction, adding a user, or changing user permissions.

Account admins can customize the quorum parameters depending on the number of users with approval permission. Take, for example, a business with a 2-of-3 transaction approver quorum. There are three roles with approver authority, and an outgoing transaction requires authorization from any two of them.

The following operations require approval from a quorum:

  1. Adding new users to the business or trust account
  2. Editing existing user roles
  3. Removing a user from the account
  4. Requesting a signature from Unchained on an outgoing transaction
  5. Optional: Creating any outgoing transaction even when not using Unchained's key