Author: Jonas Schnelli 2018-08-28 18:36:21
Published on: 2018-08-28T18:36:21+00:00
The writer proposes creating a new Bitcoin API that supports fast querying of Bitcoin blocks and transactions without the need for syncing with all previous nodes. This would allow for a unified method of finding/querying blockchain data with a standardized template containing minimal information about the actual mined block or transaction. The proposed API could be useful in building full-fledged Bitcoin explorer cum wallet systems on individual ends with external APIs. However, such APIs usually result in central validation, which breaks some of the fundamental properties of Bitcoin (avoid trusted third parties). Additionally, systems or applications depending on a fully indexed blockchain (and thus such an API) do not usually scale well. The writer is working on creating a template and support mechanism on Node.js and wants to propose it as an improvement (BIP). This proposal could be a great help to future web developers who want to make something similar.
Updated on: 2023-06-13T14:15:08.283410+00:00