š
Original date posted:2017-08-30
š Original message:Hi,
I wanted to discuss few changes in BIP49
*- Breaking backwards compatibility *
The BIP talks about breaking this, and but it really doesn't. I really
feel it should completely break this. Here is why
What would happen if you recover a wallet using seed words ?
1. Since there is no difference in seed words between segwit/non segwit,
the wallet would discover both m/44' and m/49' accounts
2. Note that we cannot ask the user to choose an account he wants to
operate on (Segwit/Non segwit). This is like asking him the HD derivation
path and a really bad UI
3. The wallet now has to constantly monitor both m/44' and m/49' accounts
for transactions
Basically we are always stuck with keeping compatibility with older seed
words or always asking the user if the seed words came from segwit/non
segwit wallet !
Here is my suggestion :
1. By default all new wallets will be created as segwit m/49' without
asking user anything. I think you would agree with me that in future we
want most wallet to be default segwit (unless user chooses a non segwit
from advanced options)!
2. Segwit wallet seed words have a different format which is incompatible
with previous wallet seed words. This encodes the information that this
wallet is segwit in the seed words itself. We need to define a structure
for this
*- XPUB Derivation*
This is something not addressed in the BIP yet.
1. Right now you can get an xpub balance/transaction history. With m/49'
there is no way to know whether an xpub is from m/44' or m/49'
2. This breaks lots of things. Wallets like electrum/armory/mycelium
<https://blog.trezor.io/using-mycelium-to-watch-your-trezor-accounts-a836dce0b954>support
importing xpub as a watch only wallet. Also services like blockonomics/
blockchain.info use xpub for displaying balance/generating merchant
addresses
Looking forward to hearing your thoughts
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shiva sitamraju [ARCHIVE] /
npub1wwā¦f0lea
2023-06-07 18:05:11
in reply to nevent1qā¦6ht2
Author Public Key
npub1wwezatsega0v4lf66asgkktymkxxj0lncgn4tef5l7q4xvhd0h0qyf0leaPublished at
2023-06-07 18:05:11Event JSON
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"id": "003389f0d8fe70fb4fe4f398a8776fdb0e5cbae5bc23ef622c23f943f5b6e298",
"pubkey": "73b22eae19475ecafd3ad7608b5964dd8c693ff3c22755e534ff815332ed7dde",
"created_at": 1686161111,
"kind": 1,
"tags": [
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"content": "š
Original date posted:2017-08-30\nš Original message:Hi,\n\nI wanted to discuss few changes in BIP49\n\n*- Breaking backwards compatibility *\nThe BIP talks about breaking this, and but it really doesn't. I really\nfeel it should completely break this. Here is why\n\nWhat would happen if you recover a wallet using seed words ?\n 1. Since there is no difference in seed words between segwit/non segwit,\nthe wallet would discover both m/44' and m/49' accounts\n 2. Note that we cannot ask the user to choose an account he wants to\noperate on (Segwit/Non segwit). This is like asking him the HD derivation\npath and a really bad UI\n 3. The wallet now has to constantly monitor both m/44' and m/49' accounts\nfor transactions\n\nBasically we are always stuck with keeping compatibility with older seed\nwords or always asking the user if the seed words came from segwit/non\nsegwit wallet !\n\nHere is my suggestion :\n1. By default all new wallets will be created as segwit m/49' without\nasking user anything. I think you would agree with me that in future we\nwant most wallet to be default segwit (unless user chooses a non segwit\nfrom advanced options)!\n\n2. Segwit wallet seed words have a different format which is incompatible\nwith previous wallet seed words. This encodes the information that this\nwallet is segwit in the seed words itself. We need to define a structure\nfor this\n\n\n\n*- XPUB Derivation*\nThis is something not addressed in the BIP yet.\n\n1. Right now you can get an xpub balance/transaction history. With m/49'\nthere is no way to know whether an xpub is from m/44' or m/49'\n\n2. This breaks lots of things. Wallets like electrum/armory/mycelium\n\u003chttps://blog.trezor.io/using-mycelium-to-watch-your-trezor-accounts-a836dce0b954\u003esupport\nimporting xpub as a watch only wallet. Also services like blockonomics/\nblockchain.info use xpub for displaying balance/generating merchant\naddresses\n\nLooking forward to hearing your thoughts\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20170830/c71c3bec/attachment.html\u003e",
"sig": "54607a09cbbf7ed4404a4c12896e3d47c315500242b981739f90ed394225ef27a8d3581994d32accd290ce6dba0373403a57ed768a72bd202e0c6f186cc7ae05"
}