Author: Paul Brown 2018-04-25 16:44:55
Published on: 2018-04-25T16:44:55+00:00
Paul Brown proposed a new BIP describing a BIP32 derivation path that supports a single or multi-signature and multi-coin wallet from a single master seed. The proposal combines BIP44 and BIP45 and adds in a self-describing structure in the derivation path for multiple multi-sig combinations within the single wallet along with an extended public key export file format for public key distribution between parties. The BIP can be found at https://github.com/gluexchange/bip/blob/master/bip-0046.mediawiki. However, the xpub encoding looks no different than any other xpub (BIP 44, 45, 49, etc). Clark Moody suggested using the xpub serialization format described in SLIP-0032 to solve this problem. The serialization format additionally provides that extra check that the correct xpubs are distributed between parties where say distributing a 3of5 xpub means you can check that the bytes at depth 3 and 4 represent the 3of5 path. This makes it easier to know which address format to use and avoids the UX nightmare of users being required to know to which BIP number the xpub conforms.
Updated on: 2023-06-13T01:34:21.899084+00:00