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How do internet wallets such as Coinbase connect to the a blockchain node? Using an API provided for that purpose. For example Bitcoin core's API Doesn’t the node itself create a default wallet object on startup? Not all nodes are based on Bitcoin core. Apart from the development costs there is nothing that prevents exchanges writing their own software to ...


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Bitcoin funds are tracked in Unspent Transaction Outputs (UTXO). Whenever you send bitcoins, your wallet software declares which specific UTXOs get spent and creates new UTXOs to assign the funds to the paid parties. Even in the simplest case, a transaction usually creates two new outputs: one to pay the receiver of the payment and one to reassign the left ...


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vout is the 0 based output index. It can be more than just 0 or 1, but those tend to be the most common because people don't make transactions with lots of outputs. To understand vout, you must understand how Bitcoin transactions actually work. A Bitcoin transaction consumes transaction outputs as inputs, and creates transaction outputs. It can consume ...


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There is no "message" field in Bitcoin transactions, only the payment information is transferred on the network. While you can generate a label for a payment requests on your end, or include a label in the QR code for the benefit of the payer, neither would be transferred on the Bitcoin network. The proper way of distinguishing payments on Bitcoin ...


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Both "1LoVG.." and the other one are valid legacy (1...) addresses made using the same private key. They are different since one of them uses the compressed public key (you might want to look this up) while 1GAehh7 uses the uncompressed public key. Always use the same compress-format for an address, and it's advisable to create new addresses in ...


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