@@ -21,10 +21,16 @@ This BIP is a particular application of BIP43.
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==Motivation ==
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+ The motivation of this BIP is to define the existing industry wide practice of utilizing m/48'
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+ derivation paths in hierarchical deterministic multi-sig wallets so that other developers may
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+ benefit from a standard.
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+
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The hierarchy proposed in this paper is quite comprehensive. It allows the handling of
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multiple accounts, external and internal chains per account, multiple script types and
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millions of addresses per chain.
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+ This paper was inspired from BIP44.
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+
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==Key sorting ==
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Any wallet that supports BIP48 inherently supports deterministic key sorting as per BIP67 so that all possible
@@ -75,21 +81,15 @@ This number is used as child index in BIP32 derivation.
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Hardened derivation is used at this level.
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- Software should prevent a creation of an account if a previous account does not
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- have a transaction history (meaning none of its addresses have been used before).
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-
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- Software needs to discover all used accounts after importing the seed from
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- an external source. Such an algorithm is described in "Account discovery" chapter.
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-
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===Script ===
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- This level splits the key space into three separate <code>script_type </code>(s). To provide
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+ This level splits the key space into two separate <code>script_type </code>(s). To provide
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backward and forward compatibility.
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- The following represent mainnet, account 0:
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-
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The recommended default is pay to witness script hash <code>m/48'/0'/0'/2' </code>.
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+ The following represent mainnet, account 0:
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<code>1' </code>: Nested Segwit (p2sh-p2wsh) <code>m/48'/0'/0'/1' </code></br>
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<code>2' </code>: Native Segwit (p2wsh) <code>m/48'/0'/0'/2' </code></br>
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