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@ -3,7 +3,7 @@
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Layer: Applications
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Title: Multi-Account/Multi-Script Hierarchy for Deterministic Multi Signature Wallets
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Author: Peter Denton <dentondevelopment@protonmail.com>
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Comments-Summary: Mixed review (one person)
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Comments-Summary: No comments
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Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-0048
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Status: Proposed
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Type: Standards Track
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@ -27,7 +27,7 @@ millions of addresses per chain.
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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
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multi-signature addresses/scripts are derived from deterministically ordered public keys.
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multi-signature addresses/scripts are derived from deterministically sorted public keys.
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==Path levels==
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@ -37,7 +37,7 @@ We define the following 6 levels in BIP32 path:
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m / purpose' / coin_type' / account' / script_type' / change / address_index
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</pre>
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`h` in the path indicates that BIP32 hardened derivation is used.
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<code>h</code> or <code>'</code> in the path indicates that BIP32 hardened derivation is used.
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Each level has a special meaning, described in the chapters below.
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@ -55,7 +55,7 @@ Sharing the same space for various networks has some disadvantages.
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Avoiding reusing addresses across networks and improving privacy issues.
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Coin type `0` for mainnet and `1` for testnet.
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Coin type <code>0</code> for mainnet and <code>1</code> for testnet.
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Hardened derivation is used at this level.
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@ -82,16 +82,18 @@ an external source. Such an algorithm is described in "Account discovery" chapte
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===Script===
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This level splits the key space into three separate `script_type`(s). To provide
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This level splits the key space into three separate <code>script_type</code>(s). To provide
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optimum backward compatibility.
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The recommended default is pay to witness script hash `m/48'/0'/0'/2'`.
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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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`1'`: Nested Segwit (p2sh-p2wsh) `m/48'/0'/0'/1'`</br>
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`2'`: Native Segwit (p2wsh) `m/48'/0'/0'/2'`</br>
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`3'`: Legacy (p2sh) `m/48'/0'/0'/3'`</br>
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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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<code>3'</code>: Legacy (p2sh) <code>m/48'/0'/0'/3'</code></br>
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Easily expanded to account for new script types.
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===Change===
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@ -142,109 +144,127 @@ an external chain by generating a new address.
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==Examples==
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{|
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!coin
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!account
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!script
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!chain
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!address
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!path
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|network
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|account
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|script
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|chain
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|address
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|path
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|-
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|Bitcoin
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|mainnet
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|first
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|p2wsh
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|external
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|first
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|m / 48' / 0' / 0' / 2' / 0 / 0
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|-
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|Bitcoin
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|mainnet
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|first
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|p2wsh
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|external
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|second
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|m / 48' / 0' / 0' / 2' / 0 / 1
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|-
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|Bitcoin
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|mainnet
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|first
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|p2wsh
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|change
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|first
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|m / 48' / 0' / 0' / 2' / 1 / 0
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|-
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|Bitcoin
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|mainnet
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|first
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|p2wsh
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|change
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|second
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|m / 48' / 0' / 0' / 2' / 1 / 1
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|-
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|Bitcoin
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|mainnet
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|second
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|p2wsh
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|external
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|first
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|m / 48' / 0' / 1' / 2' / 0 / 0
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|-
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|Bitcoin
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|mainnet
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|second
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|p2wsh
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|external
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|second
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|m / 48' / 0' / 1' / 2' / 0 / 1
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|-
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|Bitcoin
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|mainnet
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|second
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|p2sh
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|change
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|first
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|m / 48' / 0' / 1' / 2' / 1 / 0
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|m / 48' / 0' / 1' / 3' / 1 / 0
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|-
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|Bitcoin
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|mainnet
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|second
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|p2sh
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|change
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|second
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|m / 48' / 1' / 1' / 2' / 1 / 1
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|m / 48' / 1' / 1' / 3' / 1 / 1
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|-
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|Bitcoin Testnet
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|testnet
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|first
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|p2sh-p2wsh
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|external
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|first
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|m / 48' / 1' / 0' / 2' / 0 / 0
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|m / 48' / 1' / 0' / 1' / 0 / 0
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|-
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|Bitcoin Testnet
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|testnet
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|first
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|p2wsh
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|external
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|second
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|m / 48' / 1' / 0' / 2' / 0 / 1
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|-
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|Bitcoin Testnet
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|testnet
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|first
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|p2wsh
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|change
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|first
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|m / 48' / 1' / 0' / 2' / 1 / 0
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|-
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|Bitcoin Testnet
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|testnet
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|first
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|p2wsh
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|change
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|second
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|m / 48' / 1' / 0' / 2' / 1 / 1
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|-
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|Bitcoin Testnet
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|testnet
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|second
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|p2wsh
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|external
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|first
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|m / 48' / 1' / 1' / 2' / 0 / 0
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|-
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|Bitcoin Testnet
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|testnet
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|second
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|p2wsh
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|external
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|second
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|m / 48' / 1' / 1' / 2' / 0 / 1
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|-
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|Bitcoin Testnet
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|testnet
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|second
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|p2wsh
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|change
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|first
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|m / 48' / 1' / 1' / 2' / 1 / 0
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|-
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|Bitcoin Testnet
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|testnet
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|second
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|p2wsh
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|change
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|second
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|m / 48 h / 1' / 1' / 2' / 1 / 1
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|}
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==Reference==
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