What features characterize a multi-signature wallet?

A multi-signature wallet is characterized primarily by its requirement for multiple keys to authorize a transaction. This feature enhances security and control over the funds stored within the wallet. By necessitating the signatures of several private keys, it prevents any single individual from unilaterally executing transactions, thereby reducing the risk of theft or unauthorized access. Multi-signature wallets are particularly beneficial for organizational use or partnerships where multiple parties need to agree before a transaction can proceed.

The other options do not accurately reflect the defining features of a multi-signature wallet. For instance, allowing unlimited access to all users contradicts the fundamental aspect of using multiple keys, as it implies a lack of restrictions on transactions. Storing cryptocurrencies in a single address does not align with the multi-signature concept, which involves multiple address coordination for security. Lastly, while decentralized storage is a feature prevalent in many blockchain applications, it is not specifically tied to the operational function of a multi-signature wallet, which focuses more on the multi-key authorization aspect.