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.
- Basic understanding of programming
Download and install python’s latest version from its official website.
We need to install a python library called bitcoinlib to create and manage bitcoin wallets. To install the library run following command.
pip install bitcoinlib
Bitcoin HD Wallet with Python
Using HD wallets, we can generate a complete suite of crypto wallets for different cryptocurrency networks using just one seed. However, in today’s article, we will only focus on Bitcoin and how to create a simple HD wallet.
So let’s create our first Bitcoin HD wallet.
from bitcoinlib.wallets import HDWallet wallet = HDWallet.create('Wallet1') key1 = wallet.new_key() print(key1.address)
In the above script, we are performing the following steps:
- Importing bitcoinlib library
- create a new wallet
- Generating a new HD Key.
- Create a new address
To run the above program, save it in a file with .py extension. (Ex- hd_wallet1.py). Then run that file using the command below.
Bitcoin HD Wallet with Mnemonics
Mnemonics are very popular because they are easy to remember. Let’s see how to create a Bitcoin wallet using mnemonics.
from bitcoinlib.wallets import HDWallet, wallet_delete from bitcoinlib.mnemonic import Mnemonic passphrase = Mnemonic().generate() print(passphrase) wallet = HDWallet.create("mWallet1", keys=passphrase, network='bitcoin') key1 = wallet.new_key() print(key1.address)
In the above script, we are performing the following steps.
- Importing relevant classes from bitcoinlib
- Generating a random mnemonic, you can pass your own
- Creating a new wallet named mWallet1
- Generating keys
- Getting bitcoin public address
To run this program, save it in a file with .py extension. (Ex- hd_wallet2.py). Then run that file using the command below.
To learn more about the bitcoinlib library check out the official documentation.
In the next article, we will talk about the Bitcoin Multi-sig wallet and how to create one.
Note: Never post your keys or mnemonic publically.