How to create bitcoin service without 3rd party ?

boissonnea

newbie

Activity: 20

Merit: 5

You can create it, but you need a little technical expertise, which you can gain by watching some videos, but will your currency have any value? Absolutely not, currencies acquire their value from being unique copies.

create your token like erc20 tokens yo can do it with less than 100 euro and 10 min https://www.toptal.com/ethereum/create-erc20-token-tutorial.

Code:

function totalSupply() public view returns (uint256);
function balanceOf(address tokenOwner) public view returns (uint);
function allowance(address tokenOwner, address spender)
public view returns (uint);
function transfer(address to, uint tokens) public returns (bool);
function approve(address spender, uint tokens)  public returns (bool);
function transferFrom(address from, address to, uint tokens) public returns (bool);


event Approval(address indexed tokenOwner, address indexed spender,
 uint tokens);
event Transfer(address indexed from, address indexed to,
 uint tokens);

cryptoworld99

member

Activity: 84

Merit: 22

If you're looking to have a self-hosted platform for anything using cryptocurrency here are a few things you'll need.

1) knowledge with JSON rpc calls.
2) Your own node

You could run functions such as wallet notify and txnotify - this can be set up in the bitcoin.conf file so whenever you get a transaction in or out/ and a confirmation that file is run, to store the information you need to your database.

It's pretty simple, but you must be aware of hackers since they will target your node if it's not secured. I.e PORTS and always encrypt your node with a strong password (if you lose your password, your coins are gone.)

What are you trying to build

it's interesting to share so members here can help you out more.

Best of luck.

Welsh

staff

Activity: 3304

Merit: 4115

If you don't want to rely on a third party at ALL then you'll need to code everything yourself. Such as; The wallet, block explorer, and then you would still need to rely on connecting to the main chain of Bitcoin. So, in theory you would still be collecting data from a third party as a whole since the Bitcoin network is based on verifying data through multiple nodes working together to check the integrity of the network. You could run your own node, and connect to that to collect the data to avoid some of the issues for this.

However, despite the consensus of third party = bad, most of the time its just convenient to use a third party.

bob123

legendary

Activity: 1624

Merit: 2481

You can't expect a more detailed description than "install core, use it with your web applicatoin", if you don't give out more information regarding your application/service.

If you plan on creating a block explorer, you need to have all transactions indexed. This option has to be set before syncing core.
If you plan on opening a webshop / something similair, you don't need all transactions indexed.

In both cases, you'll need to use the JSON-RPC interface to get the necessary information from your node.
Your application will send commands to your node (e.g. what is the balance of address X). Then you can work with the answer.
And you can set a script to be run each time a new block/transaction to your wallet is received (e.g. whenever you receive a transaction -> add something to the DB).

BitMaxz

legendary

Activity: 3374

Merit: 3095

Playbet.io - Crypto Casino and Sportsbook

What exactly do you want to achieve? Are you talking about a payment gateway/processor where you can accept Bitcoin as payment without using 3rd party wallets?
Or are you going to develop Bitcoin by creating your own blockchain explorer and etc.?

If you talking about payment gateway you can check this one https://btcpayserver.org/
It doesn't need a 3rd party you can run it in your own machine(Self-hosted) and put your own wallet master public key.

If you talking about developing I have a good source where you can start developing bitcoin or make your own DIY blockchain you can check the link below.
- https://github.com/openblockchains/awesome-blockchains

maplelake

jr. member

Activity: 47

Merit: 8

if i'll create several web service, like wallet,create transaction, block chain explorer. How to implement it ?
Is there some open source or video ? step by step post ?

I know nothing things more than "install bitcoin client, then let your web service implementation interact with bitcoin client".

Thanks

Topic: How to create bitcoin service without 3rd party ? (Read 296 times)