Re: [bitcoin-dev] BIP49 Derivation scheme changes

[Thomas Voegtlin <thomasv@electrum.org>]

On 05.09.2017 09:10, shiva sitamraju via bitcoin-dev wrote:
> Hi,
> 
> Thanks Thomas. The procedure described in
> http://docs.electrum.org/en/latest/seedphrase.html is really what I was
> looking for ! I really don't see any point of following BIP49, If possible
> it would be great if you can propose an alternative to BIP49 that follows
> similar structure to what is used in electrum.
> 
> I have proposed following changes to BIP32 serialization format
> https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki#serialization-format
> to differentiate segwit xpub/xprv. Below the list of new version bytes,
> resulting base58 prefix and network type:
> 
> 0x042393df ,  sxpr ,   segwit mainnet private key
> 0x04239377 , sxpb , segwit mainnet public key
> 0x04222463 , stpb ,  segwit testnet public key
> 0x042224cc ,  stpr ,  segwit testnet private key
> 

I have proposed a similar idea, with letters z,y,z combined with pub/prv
(see the electrum documentation page)

The point is that we need 3 types of keys, not 2, because there are two
types of segwit output scripts: native and nested in p2sh.

We could use t,u,v for testnet.