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Author Topic: Pruning Blockchain and creating multi wallets  (Read 273 times)
faak (OP)
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May 24, 2022, 12:57:42 PM
 #21

@NotATether you are suggesting to generate a private key for every user, that something I can do. I found library to do that, I am able to generate private key of each user and get associated btc address without having bitcoin core. So I have to find the solution to create and sign a transaction from a private key.

1. How popular is the library?
2. Does the library have option to backup/restore private keys?
3. Have you checked whether it can handle thousand address?

The problem is that you still need a source to get the transactions, as well as the data for your transactions. You cannot do this without running an instance of Bitcoin Core or another full node/client.

You could use 3rd party API, but it's definitely not ideal option when you handle money.


1. The library is popular 200 stars on github
2. I can generate a private key and use it to made operations with the library. That's using https://libbitcoin.info/
3. As I understand, that is only cryptography operations, so that can handle thousand address.

But yes I will have to maintain a bitcoin core even if I use this option, so why not using directly my bitcoin core RPC API with one wallet and multiple address ?

Someone told me that I can use this service from blockchain.com : https://github.com/blockchain/service-my-wallet-v3
I have to install a service on my server and I will be able to use an API.
Do you know more about that ?

Of course 3rd party API is the best way but the cost is incredible few thousands $ by month... (Bitgo for example)

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ranochigo
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May 24, 2022, 12:59:56 PM
 #22

But yes I will have to maintain a bitcoin core even if I use this option, so why not using directly my bitcoin core RPC API with one wallet and multiple address ?
Exactly.
Someone told me that I can use this service from blockchain.com : https://github.com/blockchain/service-my-wallet-v3
I have to install a service on my server and I will be able to use an API.
Do you know more about that ?

Of course 3rd party API is the best way but the cost is incredible few thousands $ by month... (Bitgo for example)
They are not the best way. Most 3rd party APIs don't hold any responsibilities for any inaccuracies or any downtime in their APIs. You are much better off (and cheaper) to just setup your own Bitcoin Core and run it on your own server. Relying on someone else when you're hosting such an important service is not the way to go.

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