Author: Pieter Wuille 2014-04-08 13:18:52
Published on: 2014-04-08T13:18:52+00:00
The purpose of cointype is still unclear and it seems to be a client-side issue. However, if the consensus is to add cointype, it can be fixed to be equal to the 4-byte magic in serialization after setting the high bit to true. This will eliminate the need for two 4-byte magic codes that need to be defined for each. Slush, a wallet developer, discussed the details with other wallet developers regarding the structure m/'/'//, which fulfills all requirements of wallet developers including myTrezor, Electrum, Multibit, Wallet32, and others who are willing to adapt once anything is standardized. Slush suggests closing the discussion and finally implementing these paths into their software. Marek agrees with Pieter Wuille's perspective on not needing a "version" field for BIP32 and being able to use one xpub for Bitcoin/Testnet/Litecoin at once, and by having the "cointype" distinction in the bip32 path itself, he is sure that he does not reuse the same pubkey across blockchains.
Updated on: 2023-05-19T18:19:41.629067+00:00