LearnBitcoin

The Bitcoin School

For people who want to understand Bitcoin. Not flip it.

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From the glossary

Watch-Only Wallet

A wallet containing only public keys or addresses, letting users monitor balances without the ability to spend.

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  • Address

    A Taproot address encodes a tweaked 32-byte public key directly, not a hash. BIP 341 defines the output; the bc1p address encoding is Bech32m from BIP 350.

    What was wrong
  • Address Derivation Path

    BIP 44 defines two chains only: 0, the external chain for receiving addresses, and 1, the internal chain for change. The second level is the registered coin type, 0 for Bitcoin and 1 for testnet.

    What was wrong
  • Altcoin

    Neither came from an altcoin: Schnorr signatures go back to Claus Schnorr's 1990 patent filing, and Taproot's script trees descend from Bitcoin's own MAST proposals, which BIP 341 lists among the earlier Bitcoin ideas it combines.

    What was wrong
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