After discuting this topic in ucoin chatroom, here is a report :
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Bip32 can be implemented in ucoin on the client-side without changing anything on the nodes code
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We shouldn’t use bip32 to generate identity keys. These keys should be unique and no wallets should be derived from it.
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For security and anonymat, users should be invited to generate a root wallet. From this root wallet, they will be able to generate subwallets. The root wallet public key should be kept secret, and users should transfer money from generated subwallets.
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This doesn’t anonymize totally the UD since you can read the transactions back to the ID key, but it helps : For example, a service could be created to anonymize UD, by sending money to the service and receiving back in another wallet the same value.
Bip32 is using ECDSA to generate keys. Ucoin uses ed25519. We will have to port Bip32 to Ucoin. I suggest to rename the port and call it in ucoin context “hd wallets”, since that’s its original title.