Threshold Signatures Explained by Omer Shlomovits
...both multisig and TSS are essentially trying to achieve similar goals, but TSS is using cryptography off-chain, while multisig happens on-chain. However, the blockchain needs a way to encode multisig, which might harm privacy because the access structure (number of signers) is exposed on the blockchain. The cost of a multisig transaction is higher because the information on the different signers also needs to be communicated on the blockchain. In TSS, the signers’ details are folded into a regular looking transaction, reducing cost and maintaining privacy. On the other hand, multisig can be non-interactive, which saves the trouble of running a complex communication layer between the different signers.
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Threshold Signatures Explained by Omer Shlomovits ...both multisig and TSS are essentially trying to achieve similar goals, but TSS is using cryptography off-chain, while multisig happens on-chain. However, the blockchain needs a way to encode multisig, which might harm privacy because the access structure (number of signers) is exposed on the blockchain. The cost of a multisig transaction is higher because the information on the different signers also needs to be communicated on the blockchain. In TSS, the signers’ details are folded into a regular looking transaction, reducing cost and maintaining privacy. On the other hand, multisig can be non-interactive, which saves the trouble of running a complex communication layer between the different signers.