Energy Web Documentation
  • Energy Web Ecosystem
  • Launchpad by Energy Web
  • EWC Validator Documentation
  • Community Ressources
  • Legacy documentation
  • Welcome to Energy Web
  • Glossary
  • Solutions 2023
    • ↔️Data Exchange
      • Data Exchange Overview
      • Data Exchange Architecture
      • Use Cases and Refrence Implementations
        • Digital Spine for Electricity Markets
          • Digital Spine Integration Client Deployment Guide - from Azure marketplace
        • E-Mobility Management
    • 🔌Open Charging Network
      • Create and Manage an OCN Identity
      • Connect an OCPI/OCN Party to a Node
        • 1. Make your backend service OCN-ready
        • 2. Select an OCN Node and register in OCN Registry
        • 3. Manage your Whitelist and Blacklist
        • 4. Connect your service to an OCN Node
      • Run an OCN Node
      • Use the OCN Service Interface
        • Offer an OCN Service
        • Sign up for an OCN Service
      • Develop on the Test Network
      • Develop on the Production Network
      • Open Source Development
        • Maturity Model, Feature Roadmap and Releases
        • Developer Community Calls
      • E-Mobility Dashboard v0.1
  • EW-DOS Technology Components 2023
    • EW-DOS Overview
    • Worker Nodes
      • Worker Node Process Diagrams
      • Worker Node Architecture
      • Worker Node Guides
        • Deploy Worker Nodes
        • Customize Worker Logic
    • Identity and Access Management (IAM)
      • IAM Guides
        • Implement an SSI Hub instance
        • Verifiable Credential API
        • Sign-In with Ethereum
        • Using Switchboard
          • Switchboard Transaction Cost Estimates
      • IAM Patterns
        • Assets as Ownable Smart Contracts
        • Credential Lifecycle
        • Credential Metadata
        • SSI Credential Governance using ENS Domains
      • IAM Libraries
      • SSI Hub
      • Switchboard Application
    • Decentralized Data Hub (DDHub)
      • DDHub Message Broker
      • DDHub Client Gateway
      • DDHub Patterns
        • Channels and Topics
      • DDHub Guides
    • Green Proofs Contracts
    • Energy Web X
    • The Energy Web Chain
      • EWC Overview
      • System Architecture
        • Proof-of-Authority Consensus Mechanism
        • System Contracts
          • Name Registry
          • Holding Contract
          • Block Reward Contract
          • Validator-Set Contracts
        • Validator Node Architecture
      • Energy Web Block Explorer
      • Validator Node Installation Specifications
        • Volta Test Network: Validator Node Installation
      • Energy Web Chain Governance
      • EWC Guides and Tutorials
        • Getting started with Energy Web Chain
        • Developing on the Volta Test Network and Main Network (Energy Web Chain)
        • Run a Local RPC Node
          • Run RPC Node using Nethermind client
        • Deploy a Smart Contract on Volta with Remix
        • Interacting with Smart Contracts in EW-DOS
        • Set up MetaMask to interact with Energy Web Chain
        • Using the Ethereum Name Service
        • Using Oracles
      • Energy Web Token (EWT)
  • 🧠Foundational Concepts
    • Open-Source Software
    • Scaling Access to Grid Flexibility
    • Facilitating Clean Energy Purchases
    • Ethereum
      • Transactions and Transaction Costs
    • Self-Sovereign-Identity
      • Self-Sovereign Use Case Interaction
    • Cryptocurrency Wallets
      • Software cryptocurrency wallets
        • Metamask
        • Mycrypto wallet
      • Hardware cryptocurrency wallets
      • Hierarchical Deterministic (HD) Wallets
Powered by GitBook
On this page
  • Hierarchical Deterministic (HD) Wallets
  • Derivation Paths
  • Derivation Path Components
  • Derivation Paths and Energy Web Chain
Export as PDF
  1. Foundational Concepts
  2. Cryptocurrency Wallets

Hierarchical Deterministic (HD) Wallets

PreviousHardware cryptocurrency wallets

Last updated 3 years ago

Hierarchical Deterministic (HD) Wallets

Many cryptocurrency wallets (including MetaMask and Trezor) are Hierarchical Deterministic Wallets (HD Wallets).

Using a protocol called BIP44, HD Wallets allow you to derive multiple accounts that support different types of coins from one master private key. For each HD Wallet, there is one 12-24 word mnemonic seed phrase. The algorithm associated with BIP44 forms a tree using the seed phrase. Account information (public addresses and private keys) for different tokens or currencies exist at different branches of the tree. This ensures that you get a different address information for each token. You can recreate this tree in a new wallet by importing your mnemonic seed phrase.

Derivation Paths

A path called a 'Derivation Path' provides a logical hierarchy for the wallet to use to search the tree for a user's address information at a specific branch (for a specific coin type).

Derivation Path Components

  • The path typically starts with "m'" for "master"

  • The second figure is the purpose. This is a constant, always set to '44' for BIP-44 derivation paths. It indicates that this branch of the tree is compliant with BIP-44 specifications.

  • The third figure denotes the coin type for a specific blockchain. Ethereum, for example, is always "'60". Energy Web Chain is "'246". (You can see all of the registered coin types for BIP-44 here.)

  • The fourth figure is the account. Accounts are numbered from index 0 upward. A user can have many accounts associated with one currency. You can liken this to having multiple accounts at a single bank.

  • The fifth figure is the change. It can be a value of 0 or 1. 0 denotes that the address is visible to others outside of the wallet and can receive payments. 1 indicates that the address is not visible to others outside of the wallet and cannot receive payments.

Certain wallets only accept derivation paths for specific tokens or currencies. MetaMask for example, only supports the BIP-44 derivation path with coin type 60, which is Ether - m’/44’/60’/0’/0.

You can find documentation for the BIP-44 here.

Derivation Paths and Energy Web Chain

If you are using a hardware wallet and are not using it through a connection with MetaMask, you may need to change the derivation path to Energy Web Chain's derivation path to see your EWT in your account.

Energy Web Chain's derivation path is m/44'/246'/0'/0

🧠