Author: Thomas Voegtlin 2017-09-05 18:09:19
Published on: 2017-09-05T18:09:19+00:00
Luke Dashjr suggested using the same seed for all script formats; however, not everyone shares this view. Wallets must implement all script formats to ensure users can recover their funds from their mnemonic seed. The list of script formats is not defined in advance, but rather, it keeps growing, making wallet implementation more challenging. Additionally, using a single seed for all formats will ultimately lead to seed portability failure. Dashjr argued that xpub/xprv are already being used for both P2PKH and P2SH, so there's no need to differentiate segwit specifically. However, the fact that xpub/xprv can be used for both formats has resulted in users receiving coins on addresses they do not control, which is problematic.
Updated on: 2023-06-12T18:02:43.807091+00:00