Topic: Is this the only way to process bitcoin transactions without Bitpay? (Read 1021 times)

Fill your db with pregenerated addresses and hand them out

To answer your question:
NO. This is not the only way to process bitcoin transactions without Bitpay!

Read the article here: http://bitfreak.info/?page=tools&t=bitsci

Bitcoin SCI: process bitcoin transactions with PHP

The Bitcoin Shopping Cart Interface package is a set of libraries and tools that enable you to process bitcoin transactions with only PHP. You can have your own Instant Payment Notification system without the need for a middleman. If you've been wondering how to handle customer payment since MyBitcoin went down, look no further, because this is the safest solution.

An elliptic curve library written in PHP is used to achieve server side generation of FRESH bitcoin addresses for each customer. The script monitors the status of a payment by making use of the data supplied by blockexplorer.com. As such, there is no need to install a heavy duty service such as bitcoind on your server. The only limitation with this PHP package is that you can't make outgoing payments.

The SCI package comes with a simple example to give you an idea about how to generate new keys and initiate a new payment through the Bitcoin Payment Gateway. This is NOT full shopping cart software, you would typically use this script to offer Bitcoins as one possible method of payment. It is intended to serve as a very basic framework which you can expand upon and integrate with a database.

UPDATE: A lot of improvements have been made in the newest version. I had a suggestion to use public-key cryptography to help better protect the private bitcoin keys, so I implemented the RSA algorithm and it seems to work well. There is a new admin.php file in the sci file to help generate new RSA key pairs and decrypt your bitcoin keys. Encrypted bitcoin keys from older versions will not be compatible with this version, so remember to delete the decrypt_keys.php file if you're upgrading. More information can be found in the download.

History:

11/01/12: implemented QR Code functionality & now used AJAX instead of meta refresh.
31/03/12: added decrypt_keys.php to sci folder.
15/08/12: fixed serious bug which allowed generation of invalid private keys.
15/08/12: added blockchain.info support as alternative API.
15/08/12: added error detection before confirmation process.
15/08/12: added support for item name and item quantity.
10/10/12: multiple security fixes and misc improvements.
10/10/12: developed a more robust confirmation system.
10/10/12: implemented RSA encryption for bitcoin private keys.
10/10/12: added admin.php page for managing bitcoin keys.
23/11/12: transaction data is now handled in a much more secure way.
29/11/12: fixed a few important bugs created during upgrade.
30/11/12: fixed critical bug when converting private keys to addresses.
21/01/13: added payment precision feature for more flexibility.
24/02/13: fixed problem with $p_variance variable and updated payment.php.
05/03/13: fixed potential security problem and fixed missing $p_variance.
20/04/13: fixed link to jquery library in scripts/common.js.
01/07/13: fixed random error confirming transactions
14/08/13: fixed redirection error in ipn-control.php
Version: 0.4.8 (beta)

Language: PHP

Requirements:

PHP 5 or greater
manual configuration