New BIP32 structure



Summary:

Tamas Blummer, the CEO of Bitsofproof, stated that not all alternative cryptocurrencies (alts) have magic numbers, particularly those defined with colored coins on top of another chain. He also noted that the index should have MSB cleared to avoid indicating private derivation. In response to a suggestion for using magic numbers to identify coins, Jeff Garzik, a Bitcoin core developer and open source evangelist, agreed that it was a good idea, while Tamas suggested using a hash of the name of the coin instead of building a directory of magic numbers. Allen Piscitello raised a concern about the possibility of some alts lacking a magic number that could prevent identification.


Updated on: 2023-06-08T16:15:36.467781+00:00