What is bip 32?

BIP 32, or Bitcoin Improvement Proposals 32, is a protocol that defines hierarchical deterministic wallets (HD Wallets). It allows the generation of a tree-like structure of multiple keypairs (private and public keys) from a single seed. This facilitates easy backup, transfer, and layered permission control. BIP 32 enables the creation of numerous addresses from a single master key, simplifying wallet management and enhancing security.