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Board Beginners & Help
Re: Ian Coleman BIP39 / Derive P2SH addresses from Electrum generated Seed
by
21sats
on 07/06/2020, 15:58:45 UTC
From what I've learned about Electrum, it uses it's own standard to generate seed phrases.  Although it may be based on Bip39, it's not 100% compatible with Bip39.  I'm not the right guy to divulge the technical details, but I believe Electrum includes a checksum that helps the software determine if the seed is for a legacy wallet, or a native segwit wallet.

The only way I know of to generated p2sh addresses using an Electrum generated seed is to trick the software into believing it's a Bip39 seed.  The more common method for generating p2sh addresses is by using an actual Bip39 seed, like one that was generated by Ian Coleman's tool or a hardware wallet.

Meaning as the IanColeman tool views every seed put into it as a 100% standard BIP39 seed there is no way it will derive the correct addresses from the Electrum seed as it gives wrong information due to its different structure?