Seed Phrase and Derivation Path

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3 years ago

Wonder how your account can create multiple addresses? Is that really possible to access an single account with different wallets? My article is regarding to seed phrase. Please read articles i wrote about seed phrase awareness 👇https://read.cash/@prey27/4-wallet-address-in-1-account-4-in-1-seed-phrase-awareness-9be49115

I will try to explain in simplest way for you to understand derivation path and seed phrase in connections of your account wallet.

Some of you have questions and doesn't understand why a certain account can possibly create 2 or more addressees while still able to access your original account.

Seed Phrase- it is a unique set of words given to secure all the information in your wallet. Also known as mnemonic phrase, recovery phrase, back up phrase, 12 words ,seed words or secret recovery phrase.

this is an example of seed phrase

Every account made has own private key which generate seed phrase as your master private key that let you access all of your private key wallet address ..

Derivation Path- is a piece of information in systematical levels which account organize in multi-address system or simply a wallet organizer.

Combining seed and derivation path together can create multiple wallet in one account.

Derivation path consist of 6 bases divided by slashes.

m/- means derive either private (M) or public (m) master key

purpose'/- BIP use in the path ( im going to make article about BIP)

coin_type'/- represents cryptocurrency coins being used

account'/- describes your account generate by your master key

change'/- either receiving (0) or change (1) addresses

address_index'/-can be use to create another variable account.

an example of derivation path of multiple address created from mnemonic or seed (Hex)/

Every address has its own derivation path under your seed. m/44/0'/0'/0 is different from m/44/0'/0'/1 but they share the same mnemonic phrase.

try to visit https://learnmeabitcoin.com by Greg Walker to explore more about derivation path and master keys.

My derivation path conceptual framework

Let's focus on derivation path ( Private and public key to be discuss on my next article)

Imagine that your master key is your pin code to access your bank in multiple account.

. m/44/0'/0' - for your crypto assets

.m/44/0'/1' - Business fund

m/44/0'/2'- extra online income

If you open your master key (seed) with different path then you cannot access either of the given wallets above or it leads you to another address with zero fund.

Thank you for your time reading I hope you learn from this.

I am just a beginner yet interested to study key cryptography . It would be great if you can share your thoughts and knowledge about this topic. I am willing to accept criticism based on what i have understand prior to my article.

.

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Comments

Very nice article as usual. Thank you very much for writing this articles and share it with us. Well done dear @prey27 The title of your article is awesome.

$ 0.00
3 years ago

thankyou.for the your information. I have 4 addressees in my account. Now i can delete some addressees. I want use only 2 addressees.

$ 0.00
2 years ago

Very good explanation for new Crypto users

$ 0.00
3 years ago

Thanks for the good. Information!

$ 0.00
3 years ago

wow nice one! I never knew it would be this simple to understand. You did a good job sis!

$ 0.00
3 years ago

Now I understand sis what is derivation path as I wasn't paying attention to it when I saved my seed phrase 😂 thank you for this I was waiting for your explanation and you did a good job keep it up, looking forward to your next articles so I can learn more 😍

$ 0.00
3 years ago

thankyou.for the information

$ 0.00
3 years ago