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Bitcoin API to Easily Create Your Bitcoin Wallet - Tokenview
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Bitcoin API to Easily Create Your Bitcoin Wallet - Tokenview

What is a Bitcoin Wallet?

Simply put, a Bitcoin wallet is actually a 'management tool for private keys, addresses, and blockchain data.' The private key is generated from a random number, and the address is calculated from the private key. The bitcoins received and transferred from the wallet (address) must also be listed. Of course, the wallet must also support collection and payment. In other words, all of these have to be done through tools, and these types of tools are collectively referred to as 'bitcoin wallets.' ViewToken can not only predict the market of virtual currencies, but also help users earn more digital assets through financial management, and can directly use the ViewToken flash swap function, eliminating the hassle of exchange on exchanges. At present, digital currency wallets have different functions.

According to the maintenance method of blockchain data, we can divide wallets into:

  • Full nodes (such as bitcoin-core core wallet), maintain all blockchain data (currently above 50GB), fully decentralized, and synchronize all data;
  • SPV light wallets (such as the viewtoken wallet), only maintain the blockchain data related to itself, are basically decentralized (rely on other full nodes on the Bitcoin network), and only synchronize data related to themselves;
  • The centralized wallet does not rely on the Bitcoin network, but only depends on its own centralized server, and does not synchronize data. All data is obtained from its own centralized server;

According to the hardware equipment used, we can divide the wallet into:

  • Computer wallet, wallet software runs on desktop operating systems (Windows, MacOS, Linux, etc.);
  • Mobile wallet, Android, iOS, etc.;
  • Online wallet, running and cloud service, the private key is encrypted and stored on the server, and accessed through the browser;
  • Hardware wallet, running on specially customized hardware, may need to be used in conjunction with a computer or mobile phone.

Bitcoin Wallet development and Address Management

In Bitcoin application development, how to query the details of a Bitcoin address and how to query all transactions that occurred on the Bitcoin address? How to query all transactions that occurred in a specified Bitcoin address? How to manage Bitcoin addresses? Here is the solution:

  • Bitcoin transaction data is stored in a private database
  • Due to the data storage structure of Bitcoin, it is impossible to directly use the original API of Bitcoin to query historical transaction data of a specified address. Therefore, the most simple first solution is to store each transaction data on the Bitcoin blockchain in its own database, and then index the transaction address information (such as Scriptpubkey, pubkey, or the address itself), so that You can query the database freely and efficiently.

  • Use third-party Bitcoin wallet API interface
  • The previous method requires users to be able to parse the Bitcoin blockchain data and build a database environment by themselves, but it is more cumbersome and requires certain technical requirements. Many users basically do not use this method. Third-party API data services can solve this problem. Users can directly access the Tokenview blockchain API data service page, choose the appropriate API interface according to their own needs, and easily develop Bitcoin wallets and manage wallet addresses.

  • Bitcoin node implementation software
  • Users can choose a third solution to obtain Bitcoin address information and management: Bitcoin node implementation software. Such as btcd, this method uses the Bitcoin node software implemented in the go language when starting btcd. Just use the --addrindex flag to automatically create a Bitcoin address index.