Author: Thomas Voegtlin 2014-03-11 15:37:42
Published on: 2014-03-11T15:37:42+00:00
The release of bip32 features in Electrum has been postponed due to ongoing discussions with Trezor and bitcoinj developers. The plan is to create a 2-factor authentication service that uses p2sh addresses in Electrum, which will be derived from the wallet root seed and recoverable from it. When the user activates 2fa protection, the root private key and master private key of one of the branches used to create p2sh addresses will be deleted from their hard drive and sent to a remote server. An extra level must be inserted in the tree to generate 1of1 accounts after the 2fa protection is activated, and an additional layer of derivation has been suggested by slush to use wallets with altcoins on the same seed. More details about this can be found in this fairly old description.
Updated on: 2023-06-08T14:33:33.241528+00:00