I’ve just a few questions concerning the prolonged public/non-public key, i.e. the aim of its components.
Specifically, based on the BIP32 normal, the “format” of the prolonged secret is as follows:
[ magic ][ depth ][ parent fingerprint ][ key index ][ chain code ][ key ]
Nonetheless, what we really need when producing new baby keys is barely the chain code and the important thing (non-public or public). What’s the function of different components inside a given format. I perceive that the magic provides the power to acknowledge that it’s an prolonged key after encoding with Base58, however even in that case exists a several types of prolonged keys (zpub/zpriv, ypub/ypriv). I can perceive that each one these “properties” may also help folks perceive the place that secret is probably positioned inside the tree and what we are able to use it for. For instance, whether it is XPUB, then we all know that we must always use BIP44 and derive all different keys from it. Because the derivation path based on BIP44 is as follows:
m / goal' / coin_type' / account' / change / address_index
… if the depth is 2, then we might know that we must always use a hardened derivation and that we can not use XPUB of this key to derive the kid public keys since they’re hardened. Additionally, since it’s XPUB, we all know that each one keys derived from this key will solely be used for P2PKH. Then again, if it was ZPUB/ZPRIV, we might know that we must always observe BIP84 in addition to the aim of these keys. And so forth…
So, it’s clear to me how we, as people, would use all the weather from the prolonged key (though it’s not clear to me what the guardian fingerprint will do for us). Do wallets additionally interpret prolonged keys this fashion? For instance, if XPUB/XPUB will get to them, they are going to know that they observe the BIP44 normal and what the leaf nodes of its derivation path are for (P2PKH), if ZPUB/ZPRIV comes they observe BIP88 and so forth. Is that the aim of the several types of prolonged keys (completely different “values” for magic)?
Can somebody inform me one thing extra on this matter? What are all these fields for (completely different types of magic, depth, and many others.)? Is it in order that the wallets know generate all the opposite keys, what are the keys for, and so forth, or do in addition they have another goal?