CIP-1855: add derivation path standard for forging tokens #96
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| CIP: 1855 | ||
| Title: Forging policy keys for HD Wallets | ||
| Authors: Samuel Leathers <[email protected]>, John Lotoski <[email protected]>, Michael Bishop <[email protected]> | ||
| Comments-Summary: Multi-party transaction signing and key management for HD wallets. | ||
| Comments-URI: https://github.com/cardano-foundation/CIPs/wiki/Comments:CIP-1855 | ||
| Status: Draft | ||
| Type: Standards | ||
| Created: 2021-06-02 | ||
| License: CC-BY-4.0 | ||
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| # Abstract | ||
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| This document describes how to derive forging policy keys used for minting/burning tokens. | ||
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| ## Glossary | ||
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| Term | Definition | ||
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| HD | Hierarchical Deterministic, refers to wallets as described in [BIP-0032]. | ||
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| # Motivation | ||
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| ## Overview | ||
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| Forging tokens is derived from a script policy. The script policy includes hashes of keys needed to forge new tokens and must be witnessed by the keys with hashes listed. | ||
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| # Specification | ||
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| ## HD Derivation | ||
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| We consider the following HD derivation paths similarly to [CIP-1852]: | ||
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| ``` | ||
| m / purpose' / coin_type' / policy_ix' | ||
| ``` | ||
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| To associate policy keys to a wallet, we reserve however `purpose=1855'` to reserve for policy keys for forging tokens. The coin type remains `coin_type=1815'` to identify Ada as registered in [SLIP-0044]. We use a hardened index for each policy key as derivation is not needed. | ||
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| We can summarize the various paths and their respective domain in the following table: | ||
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| | `purpose` | `coin_type` | `policy_ix` | | ||
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| | `1855'` | `1815'` | `[2^31 .. 2^32-1]'` | | ||
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| ### Rationale | ||
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| - ERC20 Converter IOHK is developing needs to keep track of policy keys. Rather than having randomly generated policy keys, a policy key can be associated with a mnemonic which is easier to backup. | ||
| - A 3rd party may want to have multiple tokens tied to same mnemonic, so we allow an index to specify the token. | ||
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| - We use a different purpose for mainly two reasons: | ||
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There was a problem hiding this comment. I think it would help to also state the reason(s) why those particular derivation indices were chosen, as opposed to other possible derivation indices. And why there are 3 levels of derivation when 2 should work equally well. There was a problem hiding this comment. 1855 is just the next number in numerical order. How do you imagine having only 2 derivation levels? By removing the coin type? I guess it could be removed, but no real advantage either. There was a problem hiding this comment. It seemed a bit redundant to have a second branch for coin type that is always 1815´. Especially because these token policies will be used to mint new coin types. There was a problem hiding this comment. I definitely see your point. For #56 we ended up keeping it There was a problem hiding this comment. @rvl The coin type is really here to prevent clashes across different crypto-currency projects (if someone else uses 1855 for something else for example). While this does not really matter for desktop wallets of our ecosystem like Daedalus who only care about a single crypto, Hardware wallets or generic wallets like Exodus do manipulate multiple currencies and multiple CIP/BIP/TIP/LIP (you name it) proposals. |
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| - It prevents mixing up standard wallets with policy keys used for forging. | ||
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| - Using a different purpose also fits well the use-case on hardware wallets who can still rely on a single root seed to manage many types of wallets. | ||
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| ### Examples | ||
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| - `m/1855’/1815’/0’` | ||
| - `m/1855’/1815’/1’` | ||
| - `m/1855’/1815’/2’` | ||
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| # Backwards Compatibility | ||
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| N/A (no preceding implementation or design). | ||
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| # Reference Implementation | ||
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| None yet. | ||
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| # Related Work | ||
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| Description | Link | ||
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| BIP-0032 - HD Wallets | https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki | ||
| CIP-5 - Common Bech32 Prefixes | https://github.com/cardano-foundation/CIPs/tree/master/CIP-0005 | ||
| CIP-1852 - Cardano HD Wallets | https://github.com/cardano-foundation/CIPs/tree/master/CIP-1852 | ||
| A Formal Specification of the Cardano Ledger | https://hydra.iohk.io/job/Cardano/cardano-ledger-specs/shelleyLedgerSpec/latest/download-by-type/doc-pdf/ledger-spec | ||
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| # Copyright | ||
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| CC-BY-4.0 | ||
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| [BIP-0032]: https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki | ||
| [CIP-5]: https://github.com/cardano-foundation/CIPs/tree/master/CIP5 | ||
| [CIP-1852]: https://github.com/cardano-foundation/CIPs/blob/master/CIP-1852/CIP-1852.md | ||
| [ledger-spec.pdf]: https://hydra.iohk.io/job/Cardano/cardano-ledger-specs/shelleyLedgerSpec/latest/download-by-type/doc-pdf/ledger-spec | ||
| [SLIP-0044]: https://github.com/satoshilabs/slips/blob/master/slip-0044.md | ||
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Actually no 😶, the path considered is: