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authorFonta1n3 <fontainedenton@googlemail.com>2021-07-20 09:43:55 +0800
committerFonta1n3 <fontainedenton@googlemail.com>2021-07-20 09:43:55 +0800
commit1eb8a3ca4d8ab6d6aab2fd947ef9e613026df1f0 (patch)
treedaf54cf670168fed68f4a0f2fb79664fc00ae39b
parent0b667770d821ade047fdebe562e77eb974ed745f (diff)
Update bip-0048.mediawiki
- Replace BIP number with ? - Reduce title to less then 44 characters - Add MIT Licence and copyright section - Add specification section - Add backwards compatibility section
-rw-r--r--bip-0048.mediawiki24
1 files changed, 19 insertions, 5 deletions
diff --git a/bip-0048.mediawiki b/bip-0048.mediawiki
index 68c0190..313bfcf 100644
--- a/bip-0048.mediawiki
+++ b/bip-0048.mediawiki
@@ -1,13 +1,14 @@
<pre>
- BIP: Number not assigned
+ BIP: ?
Layer: Applications
- Title: Multi-Account/Multi-Script Hierarchy for Deterministic Multi Signature Wallets
+ Title: Multi-Script Hierarchy for Multi-Sig Wallets
Author: Peter Denton <dentondevelopment@protonmail.com>
Comments-Summary: No comments
- Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-0048
+ Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-?
Status: Proposed
Type: Standards Track
Created: 2020-12-16
+ License: MIT License
</pre>
==Abstract==
@@ -19,6 +20,9 @@ BIP-0044 (BIP44 from now on).
This BIP is a particular application of BIP43.
+==Copyright==
+This BIP falls under the MIT License.
+
==Motivation==
The motivation of this BIP is to define the existing industry wide practice of utilizing m/48'
@@ -32,12 +36,22 @@ millions of addresses per chain.
This paper was inspired from BIP44.
-==Key sorting==
+==Backwards compatibility==
+
+Currently a number of wallets already utilize this derivation scheme for HD multi-sig accounts.
+This BIP is intended to maintain the *existing* real world use of the `48'` derivation.
+No breaking changes are made so as to avoid "loss of funds" to existing users.
+Wallet's which currently support the `48'` derivation will not need to make any changes
+to comply with this BIP.
+
+==Specification==
+
+===Key sorting===
Any wallet that supports BIP48 inherently supports deterministic key sorting as per BIP67 so that all possible
multi-signature addresses/scripts are derived from deterministically sorted public keys.
-==Path levels==
+===Path levels===
We define the following 6 levels in BIP32 path: