Author: Simone Bronzini 2017-07-21 12:39:22
Published on: 2017-07-21T12:39:22+00:00
The author proposes a new structure for multi-account multisig wallets to avoid the complexities of BIP45. BIP45 specifies a HD structure for multisig wallets but becomes complicated when used in a multi-account fashion as one has to either use a new master for every multisig account or use the same master for many multisig accounts, resulting in complex and undesirable key reuse. The proposed structure follows the derivation scheme of other proposals (in particular BIP44 and BIP49) but adds a level to take into account multisig accounts separation. Users can create multiple multisig accounts and give their account's public derivation to the cosigners. The proposed structure is m/purpose'/coin_type'/account'/cosigner_index/change/address_index. The creation of a multisig P2SH address will follow the same procedure as described in BIP45, with each cosigner selecting his branch from the other cosigners' trees. The author asks if this proposal would be acceptable as a BIP.
Updated on: 2023-06-12T03:43:47.465527+00:00