Published on: 2021-02-25T10:23:59+00:00
A proposal for a new Bitcoin Improvement Proposal (BIP) called bip48 has been put forward by Fontaine. The purpose of this BIP is to document modern multi-sig derivations and provide clarity on the usage of 48 paths. The proposal draws inspiration from bip44 and aims to define an already existing standard used in practice across multi-sig wallets. However, some key points have been raised during discussions, such as not defining a `script_type` as a path level and including a defined "wild card" in the script_type level to accommodate future address types.Fontaine has created a pull request (PR) for the proposed bip48, allowing anyone to easily comment and raise concerns. The community feedback has been positive, with other developers expressing support for the proposal. The proposal is still a work in progress, and Fontaine is incorporating feedback from Pavol Rusnak and others before sharing the next draft.In response to the proposal, Luke Dashjr reminded Fontaine not to self-assign BIP numbers and asked about compatibility with another pull request. Fontaine clarified that they had only received guidance from the README and suggested that bip48 would be fitting if it remained unused. The communication regarding the proposal took place through email, using ProtonMail for secure communication.Pavol Rusnak, co-founder and CTO of SatoshiLabs, commended Fontaine's effort in proposing bip48 and pointed out that their documentation of 48 path usage also includes script_type=0 for raw BIP-11 multisig. They suggested that this should be included in the proposed BIP as well. Fontaine expressed gratitude for the link provided by Pavol Rusnak and welcomed comments and input on the proposed bip48.The proposal and discussions surrounding bip48 were shared through email threads on the bitcoin-dev mailing list. The proposal was initially shared via a static link and later through a GitHub repository, where others could provide comments and suggestions. It should be noted that self-assigning BIP numbers is not allowed, and the compatibility of bip48 with another pull request remains unclear.In summary, Fontaine has proposed bip48 as a BIP to document modern multi-sig derivations. The proposal aims to define an existing standard used in multi-sig wallets, with a focus on p2sh-p2wsh and p2wsh derivations. Feedback and support from the community have been positive, and Fontaine is incorporating feedback before sharing the next draft. The proposal and discussions have taken place through email threads and a GitHub repository, ensuring secure communication.
Updated on: 2023-08-02T02:57:59.641543+00:00