Ethereum: Receive a programmed notification when a transaction arrives at [copy]

Getting Programmatic Notifications for Bitcoin Address Receiving Transactions

As you build an in-house Bitcoin payment system, it’s essential to keep track of incoming transactions and notification to your web server. In this article, we’ll explore the recommended practice for getting notifications when a specific Bitcoin address receives a transaction.

Current Recommendation: Webhooks with JSON-RPC

The most widely adopted approach is to use webhooks with JSON-RPC (JavaScript Object Request Protocol). This method allows you to receive notifications programmatically when an event occurs on another server, in this case, the Bitcoin network.

Here’s how it works:

• Set up a JSON-RPC endpoint: Create a RESTful API on your server that exposes the necessary endpoints for receiving transactions.

• Subscribe to events: Use a library like eth-notify or web3-subscribe to subscribe to specific events, such as “new_transaction” or “balance_changed”.

• Process notifications

  

  : When an event is triggered, process the notification and update your payment system accordingly.

Benefits of Using Webhooks

Using webhooks with JSON-RPC offers several benefits:

• Scalability: With webhooks, you can handle a large number of transactions without worrying about bandwidth or queueing.

• Flexibility: You can subscribe to multiple events on different servers and manage them independently.

• Security

  : Webhooks provide an additional layer of security by ensuring that the receiving server is not vulnerable to spam or abuse.

Example Use Case:

Let’s assume you have a payment system that allows users to send Bitcoin payments. When a user initiates a payment, your server should trigger a notification when a specific address receives a transaction.

Here’s an example code snippet using eth-notify:

const Web3 = require('web3');

const EthNotify = require('eth-notify');


// Set up Web3 instance and Ethereum provider

const web3 = new Web3(new Web3.providers.HttpProvider('

const ethNotifies = new EthNotify();


// Subscribe to events on the Bitcoin network

web3.eth.getNetworks((err, networks) => {

    if (err) {

        console.error(err);

        return;

    }


    // Subscribe to "new_transaction" event on the "mainnet" network

    ethNotifies.on('new_transaction', (transactionHash, transaction) => {

        const recipient = transaction.from;

        console.log(Transaction received for address: ${recipient});


        // Update your payment system with the new transaction data

        updatePaymentSystem(recipient);

    });

});

Conclusion

Getting programmatic notifications when a Bitcoin address receives a transaction is a reliable and scalable approach to building an in-house Bitcoin payment system. By using webhooks with JSON-RPC, you can manage multiple events on different servers independently and ensure the security of your payment system.

Remember to replace YOUR_PROJECT_ID with your actual Infura project ID in the example code snippet above.

Additional Resources

For further information on Web3 and Ethereum notifications, visit:

• [Ethereum documentation](

• [Web3.js documentation](

• [eth-notify GitHub repository](