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Robert Spigler authored and GitHub committed 2021-03-18 18:00:39 -04:00
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Modern Hierarchy for Deterministic Multisignature Wallets.mediawiki
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@@ -30,9 +30,10 @@ As background, BIP 44/49/84 specifies:
m / purpose' / coin_type' / account' / change / address_index
</pre>
where the BIP43 <code>purpose'</code> path is separate for each script (P2PKH, P2WPKH-in-P2SH, and P2WPKH respectively). However, these per-script derivations are made redundant with descriptors, which describe a collection of output scripts. Note also that these are single sig derivations (which shouldn't be reused for multisig).
where the BIP43 <code>purpose'</code> path is separate for each script (P2PKH, P2WPKH-in-P2SH, and P2WPKH respectively). Having a script-per-derivation for single sig wallets allows for easy backup and restore, with just the private key information.
Standardization is needed for multisig derivation paths. There are some in existence, but all have issues. For example, BIP45 specifies:
Multisignature wallets need more information to backup and restore, and these per-script derivations are made redundant with descriptors, which describe a collection of output scripts.
A modern standardization is needed for multisig derivation paths. There are some in existence, but all have issues. For example, BIP45 specifies:
<pre>
m / purpose' / cosigner_index / change / address_index