[bitcoin-dev] BIP32/43-based standard for Schnorr signatures & decentralized identity
Dr Maxim Orlovsky
orlovsky at protonmail.com
Thu Feb 18 18:52:12 UTC 2021
Commenting on your question:
> With segWit vs pre-SegWit didn't wallets just select and standardize
> on a different HD derivation path?
> Is there something else needed than a Schnorr derivation path?
The general accepted practice (defined in BIP43) is to define a dedicated purpose field for each kind of key derivation and address encoding. There is a dedicated purpose for pre-SegWit, SegWit, multisigs — and now a purpose for Schnorr sigs/Taproot outputs is needed. That is why I brought forward this proposal, which addresses exactly this need - and also will support at the same time multisigs and pre-Taproot outputs, making all previously used purpose fields redundant, simplifying future wallets.
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