[cont'd] Derivation scheme for P2WPKH-nested-in-P2SH based accounts



Summary:

In an email to the bitcoin-dev mailing list, Daniel Weigl provides an update on his proposal for a BIP (Bitcoin Improvement Proposal) related to P2SH accounts. He asks if there are any objections to obtaining a BIP number for his proposal and also shares a link to the current version of the proposal on Github. Weigl also mentions that he has decided against extending his proposal for future P2WPKH addresses, as he believes it should be a separate account in order to reduce implementation work for future wallets and keep things simple. He asks if anyone is working on the P2WPKH address format in the meantime. In addition, Weigl notes that there will also be a need for an extension to the BIP32 serialization format, which would allow for the exporting and importing of xPriv/xPub keys across compatible wallets without guesswork or fuzzy checks. He suggests using flexible tag-based backwards compatible extensions for this purpose, but acknowledges that it would require a separate BIP. Weigl's original proposal can be found at the Github link provided, along with links to related BIPs.


Updated on: 2023-06-11T19:57:51.439827+00:00