Bitcoin wallet in Python

Bitcoin Hierarchical Deterministic wallet in Python

Here we start a series of articles that entirely cover topics on how to start working with a blockchain network; from local creation of keys and addresses to transaction creation, signing, and broadcasting to the network. We take Bitcoin as the best example of the UTXO model, though then we’ll trace the same for Account-based blockchain networks.

In this article, we will create a bitcoin HD (Hierarchical Deterministic) wallet using Python language. To learn how HD wallet works, you can check this article.

Blockchain-as-a-Service 101

Blockchain technology is actively developing, but most companies that want to use it face many obstacles: the technology is new, relatively unknown, and its implementation entails organizational risks. However, the main problem lies in the practical plane — there are not so many professional blockchain experts, but they are expensive.

Nevertheless, the interest in implementing the blockchain and the real difficulties of this process has led some companies to start offering Blockchain-as-a-Service (BaaS) to a business that prefers to outsource the development of blockchain solutions.