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| -rw-r--r-- | Modern Hierarchy for Deterministic Multisignature Wallets.mediawiki | 5 |
1 files changed, 3 insertions, 2 deletions
diff --git a/Modern Hierarchy for Deterministic Multisignature Wallets.mediawiki b/Modern Hierarchy for Deterministic Multisignature Wallets.mediawiki index 8ac2888..e69f9cf 100644 --- a/Modern Hierarchy for Deterministic Multisignature Wallets.mediawiki +++ b/Modern Hierarchy for Deterministic Multisignature Wallets.mediawiki @@ -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 |