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According to the SLIP-0044 each coin should use unique coin type (a numeric ID) when generating addresses to be used in it's network. Recently, I was experimenting with using the same seed value to initialize wallets in both Ethereum (Metamask) and Binance Smart Chain (Binance Chain Wallet) networks and have found that both wallet applications have generated the same first address. However, this shouldn't be possible (according to the BIP-44), because each wallet should use different coin type numeric value to derive the address.

Does Binance Smart Chain use the same coin type as Ethereum, effectively violating the BIP-44 and SLIP-44?

Actually, the SLIP-44 lists a coin type 714 (0x800002ca) for BNB coin and 60 (0x8000003c) for ETH.

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Yes, BSC is Ethereum-based and the addresses are the same. Consensus on BSC is from a selected group of nodes. It doesn't violate any SLIP-0044 because it's not a new mining based (Proof of work) blockchain and it didn't subscribe to that rule. Ethereum itself is not listed on SLIP-0044.

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  • Ether is listed at 60 in SLIP-0044.
    – Ismael ♦
    Jul 31 at 18:59
  • Thanks, but could you please explain what mining/consensus has to do with the address generation scheme? I'm not sure I see a connection here. Also, why does BSC use the same coin type as ETH?
    – Slava Fomin II
    Aug 2 at 10:42
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    @SlavaFominII Slip-44 is a recommendation for independent blockchains: bitcoin, dogecoin, ethereum, monero, ripple, etc. Some "ethereum like" blockchains: bsc, polygon, etc. use the same ethereum identifier for user "convenience".
    – Ismael ♦
    Aug 14 at 17:10
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For Binance Smart Chain use Coin Type 20000714 (c20000714)

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  • It doesn't answer the question and doesn't correspond to what BSC wallet is actually doing.
    – Slava Fomin II
    Aug 15 at 12:20

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