Author: Allen Piscitello 2014-03-27 16:13:46
Published on: 2014-03-27T16:13:46+00:00
In a discussion between Allen Piscitello and Pavol Rusnak, the idea of using coins' magic numbers or a hash of their name as a source for cointype was proposed. However, Rusnak finds the magic number as "unfortunate and superfluous" in BIP-32 design and suggests its removal from the system. In response to this, Andreas Antonopoulos warns against creating a structure that is only 90% interoperable as it can give false expectations and lead to dangerous assumptions. He suggests making the structure completely incompatible and providing a mechanism for converting part of it to another wallet instead. The conversation also touches on the issue of storing various altcoins in the same tree and the possibility of using xpub/xpriv code instead of the magic number.
Updated on: 2023-06-08T16:28:05.432161+00:00