The HD wallet derivation path, or hierarchical deterministic wallet derivation path, is a way to derive multiple accounts from the same mnemonic seed. It is based on the BIP44 standard, and allows you to theoretically create unlimited addresses from the same mnemonic.
It is structured in the following way:
‘m / purpose' / coin_type' / account' / change / address_index’
The coin_type' identifies the network (i.e. 118 for Cosmos Hub, 529 for Secret Network, etc), and you can find a comprehensive list of blockchain networks’ coin types on the SLIP44 standard.
Creating a Custom Derivation Path
- When creating or adding an account, you can select [Advanced] to set a custom HD Derivation Path.
- The default 'account' is 0, but you can increase the numbers to 1, 2 or another number to create a new address with the same mnemonic seed. Just make sure to record your paths so that you don't forget them.
- Click [Next] and you're all set.