Where to start exchange wallet implementation?

wsxdrfv

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Quote from: HeRetiK on April 17, 2018, 03:21:50 AM

That being said: You really really shouldn't start an exchange. Judging from your questions -- don't get me wrong, it's great that you are asking and trying to learn -- building and running an exchange is way beyond your current capabilities.

Thanks for reply.
Of course, I didn't started exchange myself alone. I am hired to company that preparing exchange.
Company has a lot of cash of course enough to launch exchange and so gathering specialists. (See my post at this forum's project section)

yo_mama

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Quote from: cr1776 on April 16, 2018, 09:02:05 PM

The fact that you are asking these questions is quite concerning for anyone who would want to use this exchange. My suggestion is to do a lot more reading to see how exchanges have been hacked, what others have tried and recommend and then think about the architecture you want to use based on that.

Most those so called "exchange hacks" are in fact exit scams committed by the exchanges themselves, with the crappy excuse of "being hacked".

Exchanges take away all the fund. So easy to make money.

HeRetiK

legendary

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Playgram - The Telegram Casino

Quote from: wsxdrfv on April 16, 2018, 09:05:21 PM

So you mean here? https://www.bitcoin.com/guides/setting-up-your-own-cold-storage-bitcoin-wallet

https://tools.bitcoin.com/paper-wallet/ -> Why it says (BCH)? Isn't it then Bitcoin-Cash? Not Bitcoin?

Bitcoin.com is owned by Roger Ver who claims BCH to be the "true" Bitcoin, thus he refers to BCH as "Bitcoin" instead of "Bitcoin Cash".

The process for paper wallets is more or less the same for BTC, but I wouldn't trust Bitcoin.com's instructions anymore. Either way, paper wallets may be a bit unwieldy when setting up cold storage for an online service.

Quote from: wsxdrfv on April 16, 2018, 11:19:54 PM

Then cold storage can be just Ledger Nano-s like hardware wallet?

For example. I'm not sure about exchanges, but some of the Casinos use hardware wallets for cold storage and refill the hot wallet manually whenever needed.

Another possibility is setting up an air gapped machine (read: an offline machine, never to be connected to the internet or other networks and devices) with Electrum or Armory.

That being said: You really really shouldn't start an exchange. Judging from your questions -- don't get me wrong, it's great that you are asking and trying to learn -- building and running an exchange is way beyond your current capabilities.

wsxdrfv

jr. member

Activity: 413

Merit: 5

Then cold storage can be just Ledger Nano-s like hardware wallet?

wsxdrfv

jr. member

Activity: 413

Merit: 5

Quote from: cr1776 on April 16, 2018, 09:02:05 PM

Cold storage for an exchange wallet should be where you start. Then have some small amount that is not cold.

And bitcond on the web server? That is a bad idea.

The fact that you are asking these questions is quite concerning for anyone who would want to use this exchange. My suggestion is to do a lot more reading to see how exchanges have been hacked, what others have tried and recommend and then think about the architecture you want to use based on that.

So you mean here? https://www.bitcoin.com/guides/setting-up-your-own-cold-storage-bitcoin-wallet

https://tools.bitcoin.com/paper-wallet/ -> Why it says (BCH)? Isn't it then Bitcoin-Cash? Not Bitcoin?

cr1776

legendary

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Quote from: wsxdrfv on April 16, 2018, 08:56:06 PM

So where to start?

For example, to implement Bitcoin wallet of exchange, download full node client of bitcoin and download whole chain datas?
And locate this bitcoin client daemon at same location of exchange's web server?
It should be ubuntu server?

or using this? https://blockchain.info/api/blockchain_wallet_api

Cold storage for an exchange wallet should be where you start. Then have some small amount that is not cold.

And bitcond on the web server? That is a bad idea.

The fact that you are asking these questions is quite concerning for anyone who would want to use this exchange. My suggestion is to do a lot more reading to see how exchanges have been hacked, what others have tried and recommend and then think about the architecture you want to use based on that.

wsxdrfv

jr. member

Activity: 413

Merit: 5

So where to start?

For example, to implement Bitcoin wallet of exchange, download full node client of bitcoin and download whole chain datas?
And locate this bitcoin client daemon at same location of exchange's web server?
It should be ubuntu server?

or using this? https://blockchain.info/api/blockchain_wallet_api

Topic: Where to start exchange wallet implementation? (Read 166 times)