Overview
An address or Wallet Address is the entry point for receiving deposits and holding assets for an individual or business.
Each address is uniquely derived and generated based on the derivation scheme of the assets you added to your wallet.
Address Overview
Bitpowr utilizes the BIP44 Multi HD Wallet derivation scheme, generating unlimited wallets and addresses.
With the Bip44 algorithm, we can generate up to 2^31 addresses from a seed very securely and conveniently. You can read more on BIP44 here.
Bitpowr supports both ECDSA and ED25519 cryptographic primitives for key generation on our MPC Vault.
Each address on Bitpowr can associated with the following components:
| Name | Description |
|---|---|
| Public Key | Public address to be given to the user |
| Derivation Index | Index of the generated address |
| Address Type | This can either be EOA or Contract Address for EVM chains or Legacy (all addresses), Segwit (segregated witness consensus layer), and WrappedSegwit for UTXO (for BTC and LTC) |
| Network | The network on which the address was generated. The address can be different depending on the network. Your API key or environment usually determines this. |
| Chain | The blockchain the address was generated on |
| Asset Type | The token the address generated for. E.g. BTC, USDT |
| Customer ID | The associated customer object. A way to attach addresses to customers' objects on Bitpowr |
| Sub Account ID | The sub-account the address is generated for |
| Change Address | This address is partially monitored and only used as a change address in UTXO transactions to return the remaining balance. |
Updated 7 months ago