Implementing blockchain in cryptocurrency exchange app

by Ivan Loler   Last Updated August 13, 2019 11:05 AM - source

TL;DR Through my app, I would like to make wallet addresses, deposit crypto on them and withdraw them to some other wallet address. The simpler way to do so locally?

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I would like to implement a blockchain in my app. At the moment, it's not really necessary if it's Bitcoin, Ethereum or maybe some other well-known blockchain today, but I need only one blockchain implemented.

Let's say that I have Bitcoin's blockchain implemented and here are the main functionalities:

  • users register and get unique wallet address for bitcoin
  • users can deposit bitcoins to newly created exchange address
  • if deposit transactions are confirmed, bitcoin balance is usable for trading for other currencies
  • withdraws are available only in BTC, so if a user has other cryptocurrencies in balance, they can be traded back into BTC and finally withdrawn to some other wallet address which user has outside of exchange

Should I try to connect to some API and make transactions through them? If yes, which one do you suggest?

Since I need it only to work on my localhost at the moment, should I download whole blockchain on my PC and then somehow query it? If yes, how should I go about it and which well-known blockchain is the simpler to do so?

I'm working with Laravel, if that helps somehow.



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