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BIP-44

Multi-Account Hierarchy for Deterministic Wallets.

In use

Sets out a standard layout for a wallet's keys, with separate branches for each coin, account and change.

One backup can hold keys for many accounts and even different cryptocurrencies. Giving each its own branch keeps them apart and avoids reusing addresses across coins, which helps privacy. Change gets its own branch inside each account.

Read BIP-44 in full on GitHubAll BIPs