BIP 44 — Multi-Account Hierarchy for Deterministic Wallets

BIP 44 (Multi-Account Hierarchy for Deterministic Wallets) standardizes a BIP 32 derivation layout — purpose 44', then coin type, account, change, and index — so wallets from different vendors can locate each other's keys. It is the derivation standard associated with legacy P2PKH accounts. Repository status: Deployed.

Debate relevance: Appears in wallet-recovery and interoperability discussions, usually alongside BIPs 49, 84, and 86, which apply the same layout to newer address types. Common misstatements: Treating the purpose number as the address type itself — BIP 44 defines a path structure; the 44'/49'/84'/86' family maps paths to script types by convention, and wallets that deviate can strand funds behind nonstandard paths.