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Ethereum: What path does bp32 use an electrum for multisig?
When it comes to configuring the multisig portfolio on Ethereum, users of have to create many signatures to make sure that all requested participants agree to the transaction. One way to achieve this is the use of bpp32 derivative paths.
BP32 and Multisig
BP32 (Bitcoin Internet Protocol Version 3) is a normalized method of representing the Bitcoin Public Key in the Format of Deterministic Hierarchical Portfolio (HD). In The Multisig Portfolio, Many Signatures are Required to Prove the Ownership of Funds Before Their Transfer.
To implement this, Electrum, One Popular Open Source Ethereum Portfolio Uses BP32 Derivatives to create a decentralized and private portfolio for multisig transaction.
What path or bp32 does electrum use?
The Implementation of BP32 Electrum Derivative Paths Includes The Creation of A Hierarchical Structure That Repeats The Public Keys of Each Participant. This Structure is USUALLY represented as a merle tree or a similar data structure.
In particular, Electrum Uses A Combination of the Path “m/0/m/0” (also Known As “Multisig” or “Seal”) and the Path Of Output M/0/K To Create A Multisig Portfolio. Here’s How It Works:
- The Path Of Output “M/0/M/0” Repeats The Public Key Of One Participant with A Hierarchical Structure, which IST MANY SIGNATURES (E.G. 1, 2 and 3).
- “M/0/K ‘Leading Path is represented by a private key corresponding to the signature of Each Participant.
- Electrum Combines these two paths using a merle tree or other data structure, which allows efficient verification of signatures.
Why Electrum Uses BPP32 Derivative Paths
Electrum Uses BP32 Derivative Paths for Multisig Wallets because Provide Several Benefits:
- Decentralization
: BP32 Allows Each Participant to Create Own Private Key and Sign Transactions Independently.
2.
- Effective Verification
: The use of Merle Trees by electrum Ensures Correctly Verification of All Signatures, Reducing the Risk of Manipulation or Compromise.
Application
To sum up, Electrum Uses A Combination of Paths “M/0/M/0” And M/0/K BP32 to Create A Decentralized and Private Multisig Wallet for Ethereum. This Implementation Provides Several Benefits, Including Decentralization, Private Property and Effective Verification of Signatures. Using BP32 and Merle Trees, The Multisig Electrum Wallet is Suitable For Use in a Wide Range of Applications, From Decentralized Finance (Defi) to cryptocurrency trading.
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