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Is there any bitcoin free full node (both mainnet and testnet) available online that i can make use of like infura for ethereum? This is because i do not intend to host my own node.

Also which javascript library for bitcoin can be used for generate wallet and sending transaction?

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You can use this libs for your purposes:

https://github.com/bitpay/bitcore-lib

https://github.com/bitpay/bitcore-explorers

And you dont need a node =)

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