Instead of the private key, a 12-word seed phrase is generated in compliance with the BIP-39 standard. It is compatible with Mycelium Wallet and TREZOR.
An extended public key (
xpub) is computed for a specific node in the wallet’s hierarchy. The node’s path can be given as a parameter to the
hd command in the
settings.txt configuration file. This path follows the BIP-43/44 notation:
it starts with the letter ‘
m’, which denotes the master node;
hierarchy levels are separated with slashes (
apostrophe indicates hardened derivation.
The maximum path length is 31 characters.
The default path corresponds to the BIP-44 Account 0 for the selected coin, i.e.
m/44'/0'/0' for Bitcoin,
m/44'/1'/0' for the Bitcoin testnet,
m/44'/2'/0' for Litecoin, and
m/44'/6'/0' for Peercoin.
|Generating an HD wallet takes slightly longer than a regular one, about 10 seconds. The more non-hardened derivations are used, the longer it takes.|
Mycelium Entropy does not currently support Shamir’s Secret Sharing for Hierarchical Deterministic wallets.