This BIP defines the standard for hierarchical deterministic ("HD") wallets. HD wallets have tree structures where public/private parent keys can create a sequence of child keys, child keys can create a sequence of grandchild keys, and so on with an infinite number of generations and keys. Each parent can generate 2 billion child keys.
This BIP describes the implementation of a mnemonic code or mnemonic sentence -- a group of easy-to-remember words -- for the generation of deterministic wallets.
This BIP introduces a "purpose" field for use in deterministic wallets based on the algorithm described in BIP32.
This BIP defines a logical hierarchy for deterministic wallets based on the purpose scheme described in BIP43 for creating BIP32 wallets.
This BIP defines a structure for hierarchical deterministic P2SH multi-party multi-signature wallets based on the purpose scheme described in BIP43 for creating BIP32 wallets.
Bitcoin Improvement Proposals
A purely peer-to-peer version of electronic cash that allows online payments to be sent directly from one party to another without going through a financial institution.
The blockchain is a decentralized, immutable, public ledger of all transactions in the bitcoin network.
Distributed Hash Table: a decentralized, distributed system for storing key/value pairs where any node in the network can efficiently retrieve a value given a certain key. Ability to map keys to values is distributed among the nodes, such that changes to participating nodes is minimally disruptive.
Hierarchical Deterministic Wallet defined in BIP32.
The Onion Router: free and open source software for anonymous communication that works by progressively encrypting and decrypting messages, including the destination address, as messages move through network nodes.