I try to understand how the seed phrases root, master keys and BIP84 is working.Found this site: https://bitcoiner.guide/seed/
BIP39 is clear so far: I can create 12 (or more) words + passphrase which prdouces a hex seed.But there is also a BIP32 Root key, not sure how that is created but somehow it's derived from the seed I guess.
In the next section Derived Addresses I use BIP84 and the inputs from https://github.com/bitcoin/bips/blob/master/bip-0084.mediawiki. So I'm using 11x abandon and 1x about without any passphrase. The wiki shows these keys:
- xpriv (Account Extended Private Key)
- xpub (Account Extended Public Key)
and of course the other derivated addresses, private and public keys using the path levels.
On the bitcoiner.guide the xpriv and xpub are called:
- Account Extended Private Key
- Account Extended Public Key
the rootpriv and rootpub values are not shown anywhere, but in addition it has these:
- BIP32 Extended Private Key
- BIP32 Extended Public Key
This is really confusing a bit, anyhow my questions are:
- I don't need to backup anything except the BIP39 Mnemonic and the optinal BIP39 passphrase, right? Except I'm using a 2/3 multi sig wallet. But my focus is BIP39 and BIP84
- How are the derived addresses with this kind of path level m/84'/0'/0'/0/0 are used?Is the software (like Electrum, etc.) using automoaitcallly a new address for each transaction or do I need to increment the index in the path level manually?
- If I create a BIP32 wallet in sparrow, it shows me both: a xpub and zpub key. That key is not shown, neither on the mediawiki page nor in the bitcoiner.gudie
Sparrow shows me this descriptor: wpkh(BIP392) - what is that?