Bitcoin Improvement Proposal (BIP) 32

Bitcoin Improvement Proposal (BIP) 32 introduced a standardized framework for hierarchical-deterministic (HD) wallets, representing an advancement over previous wallets that solely relied on random key pairs. By implementing BIP 32, wallets could adopt a hierarchical tree-like structure that integrated advanced cryptographic security measures. At the apex of this structure, a master key pair was established, dictating all subsequent private key and key pair access codes within the hierarchy.