Author: Alan Reiner 2014-03-27 01:01:40
Published on: 2014-03-27T01:01:40+00:00
The discussion on finding a better structure for BIP32 wallet structures that are compatible with one another is ongoing. Andreas Schildbach believes that either the wallets should be 100% interoperable or 0%, without anything in between, as users may delete seeds without realizing there is still money in them on another implementation. Schildbach suggests that wallets agree on a simple least common denominator and those that want to implement some feature on top of that can do so but are encouraged to pick a totally different "cointype" by removing reserved and account. Mike Hearn, Thomas V (Electrum), and Marek (Trezor) recently got together to ensure they had compatible BIP32 wallet structures; ultimately, they settled on "/m/cointype/reserved'/account'/change/n." The extra levels require some explanation: cointype is zero for Bitcoin, while reserved is for "other stuff," account is for keeping essentially wallets-within-a-wallet to avoid mixing of coins, change is 0 for receiving addresses, 1 for change addresses, and n is the actual key index.
Updated on: 2023-06-08T16:24:09.018020+00:00