((("coin type level (multiaccount structure)")))((("purpose level (multiaccount structure)")))The first-level "purpose" is always set to +44'+. The second-level "coin_type" specifies the type of cryptocurrency coin, allowing for multicurrency HD wallets where each currency has its own subtree under the second level. There are three currencies defined for now: Bitcoin is m/44'/0', Bitcoin Testnet is m/44'/1'; and Litecoin is m/44'/2'.
((("coin type level (multiaccount structure)")))((("purpose level (multiaccount structure)")))The first-level "purpose" is always set to +44'+. The second-level "coin_type" specifies the type of cryptocurrency coin, allowing for multicurrency HD wallets where each currency has its own subtree under the second level. There are three currencies defined for now: Bitcoin is m/44'/0', Bitcoin Testnet is pass:[<markup>m/44'/1'</markup>]; and Litecoin is pass:[<markup>m/44'/2'</markup>].
((("account level (multiaccount structure)")))The third level of the tree is "account," which allows users to subdivide their wallets into separate logical subaccounts, for accounting or organizational purposes. For example, an HD wallet might contain two bitcoin "accounts": m/44'/0'/0' and m/44'/0'/1'. Each account is the root of its own subtree.
myarbrough@oreilly.com
10 years ago