🏧Transaction

1. Transaction Steps

Multisig account transactions can be divided into three steps:

1. Initiate Transaction

Any member of the multisig can initiate a transaction for approval. The initiator must sign the transaction to indicate they have proposed it.

2. Collect Signatures/Approvement

During the signature collection stage, only multisig members can participate. Other members, besides the initiator, need to review the transaction details and decide whether to approve it.

If they approve, they must provide their signature. At this stage, a transaction can also be canceled by sending a blank transaction to occupy the nonce, thus invalidating the unwanted transaction.

3. Execute Transaction

Once enough signatures are collected, the transaction can be executed by the multisig. At this point, anyone (not just multisig members) can pay the gas fee and execute the transaction.

2. Nonce

Like EOAs, multisig accounts follow a nonce rule, where transactions must be executed in a sequential order, starting from nonce #0 and incrementing by one for each subsequent transaction. Members can specify the nonce when initiating a transaction, deciding whether they want it to be executed immediately or at a future point in the sequence.

Only one transaction per nonce can be executed. If multiple transactions are in the signature collection stage with the same nonce, executing one will invalidate the others. To cancel a transaction, a blank transaction can be sent to occupy the nonce, thereby executing the blank transaction instead of the original one.