find out total balance on MainAccount

0

I don't understand receiving address usage at https://blockchain.info/api/api_receive As I understand it it should work like this:

MainAccount
|--generatedReceivingAddress1 (then someone send btc and it will obtain e.g. 0.1btc)
|--generatedReceivingAddress2 (then someone send btc and it will obtain e.g. 0.2btc)
|--generatedReceivingAddress3 (then someone send btc and it will obtain e.g. 0.4btc)

Is in bitcoin ledger ability to find out:

  • which receiving addresses belong to MainAccount?
  • total balance of MainAccount (in this case 0.7btc)?

Many thanks

peter

Posted 2018-05-05T06:50:00.423

Reputation: 101

Answers

0

Blockchain.info is implementing bip32 and bip39, to understand how they're work you should read more about them.

https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki https://github.com/bitcoin/bips/blob/master/bip-0039.mediawiki

Simple Explanation:

When you create a wallet they create a mnemonic phrase (Bip39) and then they create your bitcoin seed using that mnemonic phrase.

that seed has a private key (xprv,zprv) and public key (xpub,zpub) for each derivation path, changing the path giving you more keys that belong to the same mnemonic phrase.

for example "MainAccount" in here has the following path:

m/44'/0'/0'/

When you create another "account" in your blockchain.info wallet they increase the last 0 to get new keys for the same mnemonic phrase.

Now we can derive addresses using public key (xpub,zpub) or private key (xprv,zprv).

which receiving addresses belong to MainAccount?

Every address has been derived from your "MainAccount" keys is belongs to that account.

total balance of MainAccount (in this case 0.7btc)?

They check each address balance belongs to MainAccount to get total balance.

Adam

Posted 2018-05-05T06:50:00.423

Reputation: 3 215

Thank you Adam for your explanation! So it seems (if I understand it correctly), that if someone knows e.g. second receiving address, he is able to find out total balance on MainAccount and possibly he is able to get even first and third receiving address? – peter – 2018-05-06T08:50:40.813

almost there, if someone knows your master/child public key, he is able to find out total balance of your main account. – Adam – 2018-05-06T14:43:32.777

sorry for stupid question - Can be this master/child public key derived from e.g. second receiving address (or any receiving address)? I mean if somebody knows just my e.g. second receiving address and third address, if he is able to find out total balance on account? or just the balance on receiving second and third address? – peter – 2018-05-06T14:54:30.107

No! it's not possible – Adam – 2018-05-06T15:03:19.867

Asked: 2018-05-05T06:50:00.423

Viewed: 137 times

Active: 2019-09-05T09:02:20.310