Bitcoin and Litecoin have something called XPUB key or Extended Public Key that essentially allows to track all generated public addresses, so think monitor your total balance in one key.
I was trying to see if ethereum has something like this?
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Yes. This is typically how the Mnemonic code for generating deterministic keys (BIP39) protocol works.
The user generates a 12/24-word Wordlist, eg:
power foster height puppy palm swing slight rain hammer expire inquiry picnic
The Wordlist is then used to generate a seed.
89e86df183f51db7d2b827b489b612a6f544fe7f8168bdaba62b3fbf2f16c291e0076a55b96b613cadca8d253b98fc31988ac6e7fce52e567cdc393dc6c89cb9
This seed can be later used to generate deterministic wallets using BIP-0032 or similar methods BIP-0044.
Ethereum deterministic wallets work the same as they do in Bitcoin or Litecoin. When specifying path parameter, simply increment the address_index to create as many accounts as you like:
m/44'/60'/0'/0/0
m/44'/60'/0'/0/1
m/44'/60'/0'/0/2
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2When the path is represented as m/44..., it means it is a BIP 44 path, not BIP 32. – bitsabhi Jan 18 '18 at 9:16
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1The registered coin types for BIP 44 can be found at github.com/satoshilabs/slips/blob/master/slip-0044.md – bitsabhi Jan 18 '18 at 9:22
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@bitsabhi thank you for pointing out my mistake. So would Bitcoin's value be
m/44'/0'/0'/0/0? – nyusternie Jan 20 '18 at 12:46 -
Yes, m/44'/0'/0'/0/0 represents the BIP 44 path of the Bitcoin address. – bitsabhi Jan 24 '18 at 9:10
