Add ELIP: Deterministic Derivation of Application Keys#33
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miketlk wants to merge 2 commits intoElementsProject:mainfrom
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Add ELIP: Deterministic Derivation of Application Keys#33miketlk wants to merge 2 commits intoElementsProject:mainfrom
miketlk wants to merge 2 commits intoElementsProject:mainfrom
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Initial draft of a new ELIP defining a deterministic scheme for deriving application-specific keys on hardware wallets.
The proposal reserves a dedicated BIP-32 subtree
m / 4280400' / 4932953' / 1'(corresponding to "APP"/"KEY"/v1) for the application root [private] key. Applications can then derive labeled keys from this root using HMAC-SHA256.The goal is to provide a simple and deterministic mechanism for deriving multiple application keys, including a wallet policy registration key, without reusing existing wallet/account derivation paths. It's also an alternative to SLIP-0021 (hierarchical derivation of symmetric keys) which has limited support among existing hardware wallets.
Still TODO: add reference implementation and test vectors.