Questions tagged [bip39]

BIP39 is an open standard for encoding a seed as a series of common words, but also collects other methodologies.

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Can someone explain the meaning of derivation path in wallet in plain English (such as m/44'/60'/0'/0)?

Like m / purpose' / coin_type' / account' / change / address_index which gives say a value of m/44'/60'/0'/0 What is the meaning of "m", purpose, coin type, etc.