BIP43 Purpose code for voting pool HD wallets [combined summary]



Individual post summaries: Click here to read the original discussion on the bitcoin-dev mailing list

Published on: 2014-09-26T02:32:44+00:00


Summary:

In September 2014, Gregory Maxwell sent an email seeking feedback on a proposal regarding the attachment of files through sourceforge. However, non-subscribed users faced difficulties accessing the file due to an HTTP 500 error. Bryan's contact information was also included in the email.Alan, in a Bitcoin-development mailing list, expressed support for BIP43 and suggested the addition of a "Purpose" node to identify different tree structures in a wallet file. He proposed a non-hardened first-layer derivation for common trees and a "No-collision mode" for multisig BIP32 trees. These changes could be implemented by modifying the BIP43 "Purpose" index and allowing wallet software to recognize and react to the Purpose node for various tree structures. Alan believed that adding an extra layer between the root and the important tree nodes would provide flexibility to BIP32 as a whole.Gregory Maxwell discussed the broken process of the BIP (Bitcoin Improvement Proposals) process, specifically regarding informational BIPs. He argued that proposals requiring action from others should not be grouped with purely informational proposals. Maxwell clarified that the informational BIPs were only proposed to support the intent of BIP43. Justus Ranvier was included in the email chain, and his public key ID was provided.On August 19, 2014, Justus Ranvier sent an email attaching two draft information BIPs. He requested feedback from the recipients both privately and on the list. No additional commentary was provided in the email.The HD multisig structure to be used for Bitcoin wallets used in voting pools will reserve two purpose codes. Two draft information BIPs were documented - one for wallets suitable for storing bulk bitcoin deposits and another for storing colored coin deposits. The primary difference is that bulk deposit wallets use cold storage and allow significant administrative overhead, while colored coin wallets do not use cold storage because they must be generated on the fly. The email mentioned an HTML attachment, but no details were provided about its content. Justus Ranvier signed off the message with his public key ID.


Updated on: 2023-08-01T10:16:06.974259+00:00