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I want to setup a REST API service that does 3 simple things.
- Ask it to generate a new address (ideally from a BIP32 xpub key tree)
- Notify my server application when a deposit and confirmation X happens.
- Once the deposit is confirmed, forward the funds to another address and invoke a script in PHP or node.
I was originally going down the bitcoind walletnotify route but a few issues popped up (namely no HD support, scalability of having 10000's of addresses being monitored on a bitcoind is apparently a bad idea?? Is this true?).
I've therefore been setting up Ubuntu as a server and looking at bitcore + bitcoind with node.js to solve this which is painful on v14.04 for some reason... am I barking up the wrong tree and/or is there an easier approach? I can't believe I'm the only one who's needing this so feel like I'm missing an obvious trick here as it's like pulling teeth.
I don't want to rely on a 3rd party server because if they disappeared I don't want to risk my business collapsing overnight. I am happy using 3rd party code base or servers if they are open source though. I've used blockchain.info's API previously which was excellent but really want an in house solution.
Many thanks, these sound like wise words. My main concern is about the notification part in that I'd like bitcoind to invoke some node to invoke a websocket layer to speak to the client. I guess I'm nervous about the scalability of this part, is it feasible for bitcoind to be monitoring 10,000 addresses? – sradforth – 2015-11-02T10:06:41.527
It's feasible. You'd have to do some testing to find out, though. – Jimmy Song – 2015-11-03T02:50:25.493