Mutual Wallet or Shared Wallet is not an ordinary wallet, it is build on the top the Ethereum Blockchain which enables the security of the Blockchain.
A blockchain is essentially a digital ledger of transactions that is duplicated and distributed across the
entire network of computer systems on the blockchain.Blockchain is a type of DLT in which transactions are
recorded with an immutable cryptographic signature called a hash.
Ethereum is a decentralized, open source, and distributed computing platform that enables the creation of smart
contracts and decentralized applications, also known as dapps.
-> It has on-chain wallet smart contract.
-> This wallet can store funds and also allow user to withdraw it again.
-> It have the functionality wherein Only Owner can allow the particluar address or person to withdraw the money.
-> It also detects whenever the false address or person tries to add the allowance.
-> If the perosn tries to extract more money than the available balance then it will get error.
-> Money can be deposited by anyone but during the time of the withdrawl only Owner of that Blockchain and allowed user by
the owner of the Blockchain can use it.
-> In log section one check from whom the fund is initatied , to whom it gone and what is the amount of ether is sent.
- Businesses give contractors an allowance to spend a certain budget.
- Team mentor can provide certain funds to be used by verified team mates.