If you use a Secret Recovery Phrase or hardware wallet, you may come across the term "derivation path." In short, it specifies which private key (and thus which address) is used. A derivation path looks something like this:
Note the extra "/0" at the end of the derivation path. This number is called the address index, and is used by MyCrypto to show you all the different addresses in the list. MyCrypto follows the BIP-32 and BIP-44 specification for this.
Each coin has its own base derivation path, to ensure that you get different addresses for each coin. That does not mean that you cannot use the same address for ETH (
m/44'/60'/0'/0/x) and ETC (
m/44'/61'/0'/0/x), but by default, these addresses are separated.
If you're interested in a full, technical explanation of how BIP-32 and BIP-44 work, please refer to this article.
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MyCrypto is an open-source tool that allows you to manage your Ethereum accounts privately and securely. Developed by and for the community since 2015, we’re focused on building awesome products that put the power in people’s hands.
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