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BIP 80: Hierarchy for Non-Colored Voting Pool Deterministic Multisig Wallets

Also known as: BIP80, BIP-0080.

In plain English: Sets out a standard folder-like structure of keys for 'voting pool' wallets, where several parties jointly control funds using multisignature (multiple-key) addresses. Building on the HD wallet standards BIP 32, 43 and 44, it lets compatible software derive the same addresses from shared keys.

Status
Closed
Type
Informational
Authors
Justus Ranvier, Jimmy Song
Assigned
Last changed
Topics
Wallets
Source
bip-0080.mediawiki on GitHub · Markdown

Full specification

Abstract

This BIP defines a logical hierarchy for non-colored voting pool deterministic multisig wallets based on an algorithm described in BIP-0032 (BIP32 from now on) and purpose scheme described in BIP-0043 (BIP43 from now on).

This BIP is a particular application of BIP43 and is based on BIP44.

Motivation

The hierarchy proposed in this paper allows the handling of multiple coins and multiple series from a single seed.

Path levels

We define the following 4 levels in BIP32 path:

m / purpose' / coin_type' / series' / address_index

Apostrophe in the path indicates that BIP32 hardened derivation is used.

Each level has a special meaning, described in the chapters below.

Purpose

Purpose is a constant set following the BIP43 recommendation to: the ASCII value of "80" with the most significant bit set to indicate hardened derivation (0x80000050). It indicates that the subtree of this node is used according to this specification.

Hardened derivation is used at this level.

Coin type

One master node (seed) can be used for unlimited number of independent cryptocoins such as Bitcoin, Litecoin or Namecoin. However, sharing the same space for various cryptocoins has some disadvantages.

This level creates a separate subtree for every cryptocoin, avoiding reusing addresses across cryptocoins and improving privacy issues.

Coin type is a constant, set for each cryptocoin. The list of registered coin type constants should be obtained from BIP44.

Hardened derivation is used at this level.

Series

Series are used by voting pools in order to implement FIFO cold storage. By directing deposits into multiple series, the private keys for most of the deposits can be kept offline, and a limited portion can be brought online to process withdrawals.

Hardened derivation is used at this level.

Index

Public/private keypairs are numbered from index 0 in sequentially increasing manner. This number is used as child index in BIP32 derivation.

Public keys obtained at this level of the hierarchy are used to construct multisig deposit scripts, using a schema that is shared between the members as an out-of-band contract.

Public derivation is used at this level.

Compatible wallets

  • btcwallet is the reference Bitcoin wallet for voting pools.

This document is placed in the public domain.

Reference

Questions about BIP 80

What is BIP 80?

BIP 80, “Hierarchy for Non-Colored Voting Pool Deterministic Multisig Wallets”, is an informational Bitcoin Improvement Proposal written by Justus Ranvier and Jimmy Song and assigned in August 2014. Sets out a standard folder-like structure of keys for 'voting pool' wallets, where several parties jointly control funds using multisignature (multiple-key) addresses. Building on the HD wallet standards BIP 32, 43 and 44, it lets compatible software derive the same addresses from shared keys.

What is the status of BIP 80?

BIP 80 is Closed: it is no longer being pursued because it was withdrawn, rejected or replaced by a newer proposal.

Who wrote BIP 80?

BIP 80 was written by Justus Ranvier and Jimmy Song. Its number was assigned on August 11, 2014.

Which BIPs build on BIP 80?

2 other BIPs reference BIP 80: BIP 123 (BIP Classification) and BIP 81 (Hierarchy for Colored Voting Pool Deterministic Multisig Wallets).

Where can I read the full BIP 80 specification?

The complete text of BIP 80 is on this page, taken unchanged from the official bitcoin/bips repository on GitHub. It is also available as Markdown and JSON.

BIPs that build on BIP 80

  • BIP 123: BIP Classification: Deployed. Sets out a way to classify BIPs into layers, such as consensus, peer services, APIs and applications, according to which part of the system they affect. This helps readers judge how widely a…
  • BIP 81: Hierarchy for Colored Voting Pool Deterministic Multisig Wallets: Closed. A companion to BIP 80, this proposal defines a standard key structure for voting pool multisignature wallets that handle 'colored coins', bitcoins tagged to represent other assets. Following a…

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