BIP-44 defines a logical hierarchy for deterministic wallets and expands on the capabilities of the HD wallet as defined in BIP-32 to allow for different coin types (i.e., BTC, ETH, NEO) and accounts. This allows for a single mnemonic phrase (BIP-32/39 and Smart Keys) to be used to recover seemingly infinite wallet addresses that hold assets across different blockchains. For a complete list of registered coin types under BIP-44 check out SLIP-44.