Hierarchical Deterministic Wallets

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Mycelium Entropy implements HD wallets according to BIP-32, 39, 43, and 44.

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.

hd m/55'/239/0'/1

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.

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