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Most Bitcoin IPN providers work in the following way:
1. Merchant submits invoice information (i.e. amount, their btc address, user ID and unique invoice ID).
2. The IPN provider inserts this information to a DB and generates a unique btc address for this specific invoice.
3. The merchant receives the unique btc address from the IPN provider and presents it to the end-user.
4. Once the end user pays the agreed upon amount and the transaction receives enough confirmations, the IPN provider submits a notification (i.e. POST request) and sends the funds to the merchant's wallet address.
The issue that I see here, is that a fee is paid twice. Once from the end-user to the IPN provider's unique BTC address, and again from the IPN provider to the merchant's wallet address.
I was thinking about a different approach, where the end-user sends the funds to the merchant's wallet, and the IPN provider "listens" to the BTC address. In this case the invoice identifier would be the BTC amount instead of the btc address. For example:
1. Merchant creates a new invoice for 0.001 BTC, and submits its wallet address along with the invoice information to the IPN provider.
2. The IPN provider "generates" a unique number for that specific invoice, which should be very close to the original amount (i.e. 0.00100052 - a "gap" of 1 cent). The IPN provider inserts the data (with the new amount) to its database and starts "listening" to the merchant's wallet address.
3. Once the IPN providers spots a transaction for that particular amount (0.00100052 in our example), it flags the invoice as completed and informs the merchant.
With the example above, a fee is only paid once, and the funds are transferred straight to the merchant which means that in all stages, either the customer or the merchant own the funds - never the IPN provider - a P2P IPN.
What could be the cons of this method?
1. Merchant submits invoice information (i.e. amount, their btc address, user ID and unique invoice ID).
2. The IPN provider inserts this information to a DB and generates a unique btc address for this specific invoice.
3. The merchant receives the unique btc address from the IPN provider and presents it to the end-user.
4. Once the end user pays the agreed upon amount and the transaction receives enough confirmations, the IPN provider submits a notification (i.e. POST request) and sends the funds to the merchant's wallet address.
The issue that I see here, is that a fee is paid twice. Once from the end-user to the IPN provider's unique BTC address, and again from the IPN provider to the merchant's wallet address.
I was thinking about a different approach, where the end-user sends the funds to the merchant's wallet, and the IPN provider "listens" to the BTC address. In this case the invoice identifier would be the BTC amount instead of the btc address. For example:
1. Merchant creates a new invoice for 0.001 BTC, and submits its wallet address along with the invoice information to the IPN provider.
2. The IPN provider "generates" a unique number for that specific invoice, which should be very close to the original amount (i.e. 0.00100052 - a "gap" of 1 cent). The IPN provider inserts the data (with the new amount) to its database and starts "listening" to the merchant's wallet address.
3. Once the IPN providers spots a transaction for that particular amount (0.00100052 in our example), it flags the invoice as completed and informs the merchant.
With the example above, a fee is only paid once, and the funds are transferred straight to the merchant which means that in all stages, either the customer or the merchant own the funds - never the IPN provider - a P2P IPN.
What could be the cons of this method?
Hi there,
I'm a fellow PHP dev with a few years of experience. I'm currently working on an open source cryptocurrency PHP library that will support future applications as the existing libraries are not maintained anymore.
I have been working on it for the past few weeks. Looking for more Crypto enthusiasts to come on board and get their name in the game.
Hit me up if you're interested in contributing to the project.
I'm a fellow PHP dev with a few years of experience. I'm currently working on an open source cryptocurrency PHP library that will support future applications as the existing libraries are not maintained anymore.
I have been working on it for the past few weeks. Looking for more Crypto enthusiasts to come on board and get their name in the game.
Hit me up if you're interested in contributing to the project.
When creating the scriptSig, we sign the transaction hash using the spender's private key. Does that mean that the scriptSig is the same for all inputs? Or is the tx hash calculated separately for each input?
The hash is different for each input.Also, is there a developers chat or group?
#bitcoin-dev on freenode.In that case, what do we put in the final "hash" parameter of the transaction? Is it the double-hashed raw transaction before it's broadcasted?
Hi,
So I'm learning bit by bit on how to create a transaction (without using any external library).
When creating the scriptSig, we sign the transaction hash using the spender's private key. Does that mean that the scriptSig is the same for all inputs? Or is the tx hash calculated separately for each input?
Also, is there a developers chat or group?
So I'm learning bit by bit on how to create a transaction (without using any external library).
When creating the scriptSig, we sign the transaction hash using the spender's private key. Does that mean that the scriptSig is the same for all inputs? Or is the tx hash calculated separately for each input?
Also, is there a developers chat or group?
Hi,
I'm trying to figure out how to create a Segwit address. I already managed to create an original bitcoin address.
Let's assume the following Public Key:
publicKey = 03fac6879502c4c939cfaadc45999c7ed7366203ad523ab83ad5502c71621a85bb
*ripemd160(sha256(publicKey)) = 7646c030f7e75b80f0a31cdcab731e6f424f22b2 - hash
*Add version to hash = 00147646c030f7e75b80f0a31cdcab731e6f424f22b2 - redeemScript
*ripemd160(sha256(redeemScript)) = 188ba16284702258959d8bb63bb9a5d979b57875 - hash
*sha256(sha256(redeemScript)) = 55c304447c41caee29f1d7c9779a3a8e9dd00ea7905e286e733049d12e1b479f - hash-for-checksum
--so far so good (I assume)--
*4 byte checksum = 55c30444 - checksum
*'05' + hash + checksum = 05188ba16284702258959d8bb63bb9a5d979b5787555c30444 - this is the part I get wrong I think
*base58 of it = 33voQqbNAYyig272KjcX8GkucWn2uJk5WT - this is the address that I get, while I should be getting 33voQqbNAYyig272KjcX8GkucWn2x25WEg.
How is possible that only the last 6 characters are incorrect? Does that imply that the checksum is incorrect? Or when it comes to segwit, is the base58 function different?
I'm trying to figure out how to create a Segwit address. I already managed to create an original bitcoin address.
Let's assume the following Public Key:
publicKey = 03fac6879502c4c939cfaadc45999c7ed7366203ad523ab83ad5502c71621a85bb
*ripemd160(sha256(publicKey)) = 7646c030f7e75b80f0a31cdcab731e6f424f22b2 - hash
*Add version to hash = 00147646c030f7e75b80f0a31cdcab731e6f424f22b2 - redeemScript
*ripemd160(sha256(redeemScript)) = 188ba16284702258959d8bb63bb9a5d979b57875 - hash
*sha256(sha256(redeemScript)) = 55c304447c41caee29f1d7c9779a3a8e9dd00ea7905e286e733049d12e1b479f - hash-for-checksum
--so far so good (I assume)--
*4 byte checksum = 55c30444 - checksum
*'05' + hash + checksum = 05188ba16284702258959d8bb63bb9a5d979b5787555c30444 - this is the part I get wrong I think
*base58 of it = 33voQqbNAYyig272KjcX8GkucWn2uJk5WT - this is the address that I get, while I should be getting 33voQqbNAYyig272KjcX8GkucWn2x25WEg.
How is possible that only the last 6 characters are incorrect? Does that imply that the checksum is incorrect? Or when it comes to segwit, is the base58 function different?
Hi,
I'm trying to generate a public address from a public key. I've read the docs at https://en.bitcoin.it/wiki/Technical_background_of_version_1_Bitcoin_addresses.
In step 2, it says to encrypt (sha256) the public key.
However, the result is 32511e82d56dcea68eb774094e25bab0f8bdd9bc1eca1ceeda38c7a43aceddce and not what they showed in step 2 (600FFE422B4E00731A59557A5CCA46CC183944191006324A447BDB2D98D4B408).
What am I missing here?
I'm trying to generate a public address from a public key. I've read the docs at https://en.bitcoin.it/wiki/Technical_background_of_version_1_Bitcoin_addresses.
In step 2, it says to encrypt (sha256) the public key.
However, the result is 32511e82d56dcea68eb774094e25bab0f8bdd9bc1eca1ceeda38c7a43aceddce and not what they showed in step 2 (600FFE422B4E00731A59557A5CCA46CC183944191006324A447BDB2D98D4B408).
What am I missing here?
Thanks for your reply. Appreciated. However, it does seem like the tool is doing all the work for me. I'm trying to learn how the calculation works myself.
I did understand that you need to multiple the decimal representation of my private key with base point G, however, I did not understand how the multiplication actually works.
I did try to simply convert the private key (0x18E14A7B6A307F426A94F8114701E7C8E774E7F9A47E2C2035DB29A206321725 -> 11253563012059685825953619222107823549092147699031672238385790369351542642469) and multiply it by base point Gx (55066263022277343669578718895168534326250603453777594175500187360389116729240) which gives us BD4FD5FB7A2267DCBAFA00828EF916804FE307BE10C66D70DF06E7504A7252B5ACA70B176876047 473923124DD35521DC45FF99FDC337551BCE746CC7AA10F8 (which is not the public key).
I did understand that you need to multiple the decimal representation of my private key with base point G, however, I did not understand how the multiplication actually works.
I did try to simply convert the private key (0x18E14A7B6A307F426A94F8114701E7C8E774E7F9A47E2C2035DB29A206321725 -> 11253563012059685825953619222107823549092147699031672238385790369351542642469) and multiply it by base point Gx (55066263022277343669578718895168534326250603453777594175500187360389116729240) which gives us BD4FD5FB7A2267DCBAFA00828EF916804FE307BE10C66D70DF06E7504A7252B5ACA70B176876047 473923124DD35521DC45FF99FDC337551BCE746CC7AA10F8 (which is not the public key).
Hi,
I'm trying to convert a private key to a public key.
Let's assume the following private key:
18E14A7B6A307F426A94F8114701E7C8E774E7F9A47E2C2035DB29A206321725
Which translates in decimal to:
11253563012059685825953619222107823549092147699031672238385790369351542642469
Now, we have the constant G:
GX : 0x79BE667EF9DCBBAC55A06295CE870B07029BFCDB2DCE28D959F2815B16F81798 -> 55066263022277343669578718895168534326250603453777594175500187360389116729240
GY : 0x483ADA7726A3C4655DA4FBFC0E1108A8FD17B448A68554199C47D08FFB10D4B8 ->32670510020758816978083085130507043184471273380659243275938904335757337482424
I've tried reading about the elliptic curve and some papers about it but I haven't figured out what's my next move in order to get the public key.
I'm trying to convert a private key to a public key.
Let's assume the following private key:
18E14A7B6A307F426A94F8114701E7C8E774E7F9A47E2C2035DB29A206321725
Which translates in decimal to:
11253563012059685825953619222107823549092147699031672238385790369351542642469
Now, we have the constant G:
GX : 0x79BE667EF9DCBBAC55A06295CE870B07029BFCDB2DCE28D959F2815B16F81798 -> 55066263022277343669578718895168534326250603453777594175500187360389116729240
GY : 0x483ADA7726A3C4655DA4FBFC0E1108A8FD17B448A68554199C47D08FFB10D4B8 ->32670510020758816978083085130507043184471273380659243275938904335757337482424
I've tried reading about the elliptic curve and some papers about it but I haven't figured out what's my next move in order to get the public key.
I like ur app - try it on Android
Are you going to integrate app with others projects, maybe large online stores, like Amazon?
Are you going to integrate app with others projects, maybe large online stores, like Amazon?
I'm thinking about creating a chrome extension, but larger scale integration would require cooperation with said stores.
You have done a great job creating this and I'm sure this is very helpful. It just don't helps people to buy things with btc but also to promote the use of btc. I hope you'll make one available for pc users.
Will be working on a chrome extension soon
Hi! I downloaded the app since I have an Android device that I use for work. I would like to suggest a few things, most of which pertains to the quality of life side of the app.
1. Try to add an option to view it in Landscape mode.
2. App images does not scale well on tablet devices.
3. Try integrating your app with others, for example Gyft or Amazon.
Now for the good part. I have no problems whatsoever with the application. It glides smoothly, runs fast, has a small storage requirement and the best thing is, it does not ask for any permissions.
My overall rating for this aside from the quality of life suggestions, I would rank it at 4.5 stars. This makes it much easier for people who prefer shopping using crypto currencies. Who knows, this might be the next big thing and help crypto currencies be noticed by a lot more people.
1. Try to add an option to view it in Landscape mode.
2. App images does not scale well on tablet devices.
3. Try integrating your app with others, for example Gyft or Amazon.
Now for the good part. I have no problems whatsoever with the application. It glides smoothly, runs fast, has a small storage requirement and the best thing is, it does not ask for any permissions.
My overall rating for this aside from the quality of life suggestions, I would rank it at 4.5 stars. This makes it much easier for people who prefer shopping using crypto currencies. Who knows, this might be the next big thing and help crypto currencies be noticed by a lot more people.
Hi,
Thank you for your reply! I'm currently working on a new version which is built in a new platform (although no major changes as for the current features and functionality).
1. In the new version I enabled Landscape mode
2. Customized for tablets on the new version as well.
3. What kind of integration would you be interested in?
I developed a new app called NoFiat (https://no-fiat.com). It allows users to choose their cryptocurrency and browse stores that accept this currency. It also allows users to compare exchanges buy & sell prices in real time.
The app is free and has no ads or donation option.
Play store link: https://play.google.com/store/apps/details?id=io.cordova.myappd3e790
App store link: Still being verified by Apple
I'm looking for new ideas and features, do you guys have any thoughts of what to put in there?
Hi,will you open source your code？The app is free and has no ads or donation option.
Play store link: https://play.google.com/store/apps/details?id=io.cordova.myappd3e790
App store link: Still being verified by Apple
I'm looking for new ideas and features, do you guys have any thoughts of what to put in there?
I developed a new app called NoFiat (https://no-fiat.com). It allows users to choose their cryptocurrency and browse stores that accept this currency. It also allows users to compare exchanges buy & sell prices in real time.
The app is free and has no ads or donation option.
Play store link: https://play.google.com/store/apps/details?id=io.cordova.myappd3e790
App store link: Still being verified by Apple
I'm looking for new ideas and features, do you guys have any thoughts of what to put in there?
The app is free and has no ads or donation option.
Play store link: https://play.google.com/store/apps/details?id=io.cordova.myappd3e790
App store link: Still being verified by Apple
I'm looking for new ideas and features, do you guys have any thoughts of what to put in there?
If you do so that the user can not think about what crypto currency is in his wallet, and what currency he pays, then it will be perfect.
Now there are a lot of crypto currencies, and it's getting bigger. Business and users often do not understand what currency to connect and how to manage a large number of wallets.
I would be happy if my comment is useful. )
Hi, thank you for your reply.
I'm not sure I understood your suggestion. Can you elaborate?
I like it, want to experience it, but I have windows phone:/
Might develop for windows phone users as well. Not sure how many there are out there though.this seems nice just for little idea. it can work as gps based , while nearby crypto accepted shop, it can warn you. 
Right now NoFiat is more focused on online stores rather than physical ones.I developed a new app called NoFiat (https://no-fiat.com). It allows users to choose their cryptocurrency and browse stores that accept this currency. It also allows users to compare exchanges buy & sell prices in real time.
The app is free and has no ads or donation option.
Play store link: https://play.google.com/store/apps/details?id=io.cordova.myappd3e790
App store link: Still being verified by Apple
I'm looking for new ideas and features, do you guys have any thoughts of what to put in there?
The app is free and has no ads or donation option.
Play store link: https://play.google.com/store/apps/details?id=io.cordova.myappd3e790
App store link: Still being verified by Apple
I'm looking for new ideas and features, do you guys have any thoughts of what to put in there?
You developed crypto apps. Nice idea.
Why your rank is newbie only?
How possible earn with your app if no ads and donation?
How planning get profit from this app?
Hi,
Until now I only used Reddit. That was my first post.
I don't have plans to monetize NoFiat right now. I do benefit from it by having it in my "portfolio". But I'm mostly enjoying developing Bitcoin related software.
As for iOS. Unfortunately Apple takes forever to reply and they rejected my app for the second time with an excuse that it doesn't use enough iOS functionality. I am working on making whatever changes they require in order to make NoFiat available for iPhone users as well.
I will be releasing a new version today. I made the user experience far better, and added a few features (such as hiding gift-cards). Also added quite a few new websites
I developed a new app called NoFiat (https://no-fiat.com). It allows users to choose their cryptocurrency and browse stores that accept this currency. It also allows users to compare exchanges buy & sell prices in real time.
How do you find the stores that accept cryptos ? Isn't the scope for stores accepting them limited ? You would just have handful of stores right ? Are you using an exchange API ? How secure are customer's bitcoin in your app ? Have you tested the app for security flaws yet ?I'm looking for new ideas and features, do you guys have any thoughts of what to put in there?
We can't unless we get to see what the app does.You should put a web version as well,it wouldn't be a bad choice.No one really wants to download the app until they're satisfied with what they app does.Whoa quite a few points to cover..
1. I find stores by searching online / existing lists / articles / exchanges.
2. Actually I'm already at more than 120 websites..
3. I'm using exchanges API for the buy & sell price comparison
4. Customers don't store Bitcoin in the app. It's not a wallet.
5. Same as above. There's no sensitive information in the app.
As for Web version, I will work to create on in the next week.
I developed a new app called NoFiat (https://no-fiat.com). It allows users to choose their cryptocurrency and browse stores that accept this currency. It also allows users to compare exchanges buy & sell prices in real time.
The app is free and has no ads or donation option.
Play store link: https://play.google.com/store/apps/details?id=io.cordova.myappd3e790
App store link: Still being verified by Apple
I'm looking for new ideas and features, do you guys have any thoughts of what to put in there?
The app is free and has no ads or donation option.
Play store link: https://play.google.com/store/apps/details?id=io.cordova.myappd3e790
App store link: Still being verified by Apple
I'm looking for new ideas and features, do you guys have any thoughts of what to put in there?