Author: Paul Brown 2018-05-04 08:23:21
Published on: 2018-05-04T08:23:21+00:00
Paul Brown is going to support SLIP-0032 for the serialization format of extended keys. He believes this will provide additional validation when extended public keys are shared among cosigners in a multi-sig group. The proposal suggests using bech32 serialized addresses (P2WPKH or P2WSH). However, Paul wonders whether there is merit in extending the derivation path with an additional level below coin type to represent the address format. A separate specification similar to SLIP-0044 could be created that defines the list of address formats and the derivation path values. The proposal also talks about a BIP32 derivation path that supports a single or multi-signature and multi-coin wallet from a single master seed. It combines BIP44 and BIP45 and adds in a self-describing structure in the derivation path for multiple multi-sig combinations within the single wallet along with an extended public key export file format for public key distribution between parties. BIP44 leaves itself open to interpretation from a wallet portability perspective such as what address format is expected when discovering balances and creating transactions, does the master seed represent a single-sig or multi-sig wallet, if multi-sig, how many cosigners and what are their extended public keys, and if multi-sig, how do you prevent collisions on the same address index. BIP45 solves the collision that occurs when the individual parties in a multi-sig group each give out a new address from a wallet, where the wallet hasn’t been able to sync to mark the address as ‘used’. In the proposal, Paul has temporarily assigned it the number 46. The proposal includes several links to other Bitcoin Improvement Proposals and discussions related to the problems of a collision and the merits of separating cosigners in the derivation path. Clark Moody provided feedback suggesting the use of the xpub serialization format described in SLIP-0032.
Updated on: 2023-06-13T01:35:25.973770+00:00