key, b8B9C580 is the base58 check encoding checksum. Using the accounts extended public keys though, it is possible to generate every address under that account, making it possible to generate read-only addresses without risking the accounts funds. The network determines the version bytes. The end result is a Bitcoin address of between 27 and 34 characters long! Also, due to the mathematical properties of the CKD function, given an extended public key and one of the descendants of its corresponding private key, it is possible to recreate the extended private key and all its other descendant private keys. Although extended public keys cannot be used to get access to the private keys (and funds they are still more sensitive than regular public keys. This post is the continuation of my previous about key derivation. Can someone deconstruct an extended key from beginning to end? The rest is just metadata about the keys for wallets and people.
Extended public keys, extended private keys are regular private keys, extended with a 32-byte chain code. Base64 uses A-Z, a-z, 0-9, and /. Join them end to end to make a 128 characters long string in Hexadecimal format, and then hash them whilst adding to the front a 1 (to indicate an address on the main network, if the address was for the testnet it would start with. Thus, having a leaked public key can amplify the damage caused by a leaked child private key, which would be limited to its own funds otherwise. This rule - to clarify - is not referring to the master private key (xprv it means any child address' private key (WIF, hex, etc) will compromise your whole chain, as outlined here. Don't fall into this trap! Base58 decoding this gives us 0488B21E013442193E 0488B21E are the version bytes as defined by BIP.
I'm unfamiliar with what comprises the extended private key. A quick reminder: the derivation function has two inputs, the extended key and the index, which is a 32-bit integer.
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