When constructing the path for a node in a wallet tree, the default value for cointype is 60 for ethereum.
Why is that?
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1 Answer
According to Reddit and a pull request about SLIP-0044, it's because the symbol for Ether is Ξ, which is 60 in greek numerals.
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1There doesn't seem to have been much discussion on this. Crazy that a reddit post with 2 comments is all it took to make that decision.– arshbotFeb 19, 2018 at 17:59