Bitcoin

Intro For several weeks I tried to play around bitcoin script. Yes, this may be news to you but bitcoin have a scripting language that acts as a very simple smart contract. This is an interesting topic because it reveals the internals of Bitcoin. What you should know is that bitcoins script is a scripting system for transactions. Forth-like, Script is simple, stack-based, and processed from left to right. It is intentionally not Turing-complete, with no loops. ...

Intro Great weekend for great research followup. This article is about how to implement billing system different crypto currencies using Rust pogramming language. Before getting deeper into the details of implementation o would like to define what is standing under the term “billing system” for crypto currencies. Crypto Billing system is a software that us used to organize crypto payments in your organization. It is designed to create derevative addresses (one time payment addresses) and monitor incoming transactions executing business logic for your organization. Typically the scenario could be the following: ...

Intro I was interested on how to write Bitocoin automation and during of implementation of the project I found out that I need to write raw transactions. This looks interesting as it give an overview on bitcoin protocol internals, knowledge on how it works gives possibility to understand deeper the internals. Creating a Raw Transaction This allows you to send money but to craft the transactions as precisely as you want. This first section focuses on a simple one-input, one-output transaction. This sort of transaction isn’t actually that useful, because you’re rarely going to want to send all of your money to one person (unless you’re actually just forwarding it on, such as if you’re moving things from one wallet to another). Thus, we don’t label this section as a way to send money. It’s just a foundational stepping stone to actually sending money with a raw transaction. ...

Intro Let’s take a look a specific use-case. If a user is sending bitcoin to my bitcoin address, how can I keep track the status of the transaction, for example, when the user send the coins and when the transaction gets confirmed? The solution is the system will generate a unique address for every user who is trying to send bitcoin. And the system will listen any transactions in the network, which related to this address. ...