Author: Thomas Voegtlin 2014-04-24 07:42:30
Published on: 2014-04-24T07:42:30+00:00
Pieter Wuille has clarified that BIP64 has a stricter definition for accounts than BIP32. In BIP32, accounts can be used for various purposes such as sub-wallets, receiving accounts, recurring payments or multisig addresses, while in BIP64 they are strictly used for sub-wallets. Electrum currently allows users to choose between using a single account or all accounts simultaneously, which is not consistent with the BIP64 standard. However, Electrum will use parallel BIP32 trees to separate standard and multisig accounts. Mike Hearn's opinion that wallets with multiple accounts are too difficult for most users is agreed upon by Thomas. While Electrum will offer multiple sub-wallets, they should not be the default option. Users who want different accounting identities can create different wallet files instead of sub-wallets. In the previous implementation, multiple accounts were required for multisig, but this will no longer be the case.
Updated on: 2023-06-08T16:21:21.847500+00:00