Author: Pavol Rusnak 2014-04-23 19:29:04
Published on: 2014-04-23T19:29:04+00:00
In an email conversation, Tier Nolan discusses the importance of having a single system that is compatible over a large number of systems. The email states that such a system already exists and is called BIP32. However, BIP64 puts restrictions and rules on top of BIP32, and there may be some special use cases where BIP64 is not a good fit. Electrum is given as an example of a system that does not want to use accounts and uses a different scheme, m/65'/change/address, instead. Andreas Schildbach is mentioned as using m/66'/chain/address for refunds chain. The email concludes by stating that while they had hoped to find one solution that fits all, unfortunately everyone wants something slightly different. The point of the effort is to have one single backup for all these independent purposes so that claims such as "my wallet is BIP64 and BIP66 compatible" actually mean something.
Updated on: 2023-06-08T16:08:56.905493+00:00