Category Archives: Altcoin
Things are looking brighter during the Asian trading session this weekend. Bitcoin has done better than hold the pivotal $8k level, it has risen to just under $9,000. As usual the movements of Bitcoin are mirrored in the altcoin charts and most of them are trading higher this morning. The leading altcoin however is one that has taken a lot of flak recently. But with a 53% jump in less than 24 hours Tron is on a flyer at the moment.
Social media has been vicious to Tron and its founder. For some reason this altcoin has hit a nerve with the Facebook fanboys that have been bleating on about it for some weeks. It has probably suffered a greater FUD attack than any other cryptocurrency out there, with the possible exception of Verge, and this may be due to the huge attack of FOMO causing the coin to spike from virtually nothing to $0.25 on January 5.
Since then it has been on a downward slide with all other altcoins. Today however Tron is over 50% higher than its trading price the same time yesterday. Currently trading at $0.054 TRX has seen the largest upward movement in the top 25 altcoins this morning. Founder Justin Sun is very active on Twitter where he posts almost weekly updates about partnerships with small Chinese companies. The entertainments based altcoin could easily reach its previous all-time high if a bigger partnership gets announced.
TRX is predominantly traded on Binance which has over half the total volume. Its market cap is $3.6 billion which ranks it as the 16th most popular altcoin. $480 million has been traded in the past 24 hours, largely in South Korea. Other altcoins enjoying big jumps today are Ripple, Cardano, Stellar and Lisk.
More on Tron can be found here:https://tron.network/enindex.html
FOMO Moments is a section that takes a daily look at the top 25 altcoins during the Asian trading session and analyses the best performing one, looking for trends and fundamentals.
Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 15 years working in web technology and media. View all posts by Martin J. Young
See the original post:
Morning Asian Altcoin Trading Roundup: the leader is Tron
On December 22, 2017 the cryptocurrency market lost in excess of $200 billion to just over $420 billion while Bitcoin (BTC) traded below $11,000 as sellers hammered the market. Now two weeks later the cryptocurrency market has hit a new all-time high in excess of $700 billion, driven primarily by surging altcoins with Ripple (XRP) leading the charge.
Other topics covered in this week’s Bitcoin and Cryptocurrency webinar include –
If you missed this webinar and would like to know about future events, see the full DailyFX webinar schedule here.
— Written by Nick Cawley , Analyst
To contact Nick , email him at firstname.lastname@example.org
Follow Nick on Twitter @ nickcawley1
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets. Learn forex trading with a free practice account and trading charts from IG .
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
See original here:
Webinar: Bitcoin Overshadowed by Altcoin Surge – Nasdaq.com
Please share if you find this article interesting.People Selling ‘Fully Verified’ Crypto-Exchange Accounts On the Rise – Bitcoin NewsNewsOver the past few months, cryptocurrency exchanges across the globe have been swamped with new customers looking to trade or acquire digital assets. Trading platforms have been having a hard time keeping up with the new registrants. Users are complaining that identity verifications are now required and take weeks to process, while some exchanges are not accepting new customers at all. This has led to rise of individuals selling fully verified accounts for a variety of popular digital currency platforms.Also Read: Several Bitcoin Exchanges Are Closing Their Doors to New TradersAs Exchanges Stop Accepting New Registrants and Require Mo
Please share if you find this article interesting.BUY IOTA AND AIM FOR $5.5Its no doubt that it IOTA has been on a rough patch with sellers pushing prices lower. However, after that close above $4.2, just buy IOTA. Yes, and while at it aim for $5.5.Of course, after last weeks higher high, retracements and break outs, I was hoping LTC to spice up after waking up from a 2 week slumber but it didnt.Instead we are seeing a series of lower lows and that is okay since any reversal from $255 is a retest which is pretty inviting for buyers.Lets have a look at other alt coin chartsAS NEM BUY PRESSURE STUTTER FOCUS SHIFT BACK TO $1.35IOTUSD 4HR Chart for January 8, 2018Prices are pretty good and for NEM buyers, there is no reason to complain.Judging from last week-which by the
Please share if you find this article interesting.Chinese Authorities Ask Local Miners to Submit Monthly Status Reports – Bitcoin NewsRegulationXinjiang Province regulators have issued an official document informing local bitcoin miners to submit status reports on a specific schedule.Also Read:Japanese Virtual Currency Girls Spreading Cryptocurrency Knowledge An Orderly ExitBitcoin mining companies were told to write a status report before Jan. 5, according to a government notice signed by a Xinjiang committee in charge of overseeing internet finance risks (The Committee) that was circulated online and verified by people familiar with the matter.The document reads that:Xinjiang is home to multiple bitcoin miners, which are both energy-intensive and highly sp
Please share if you find this article interesting.Crypto Tax Tips To Start 2018 RightEven though cryptocurrencies are getting more and more exposure, their legislation seems to be a grey area for most governments, especially when it comes to declaring your income in digital currencies. The Internal Revenue Service, the US tax collection agency, has issued Notice 2014-21 stating that Bitcoin and altcoins are subjects to federal income and payroll taxes. So what to do with your crypto money and how to declare your taxes right?RecordsLets start with the dreary subject of records. Yes, that applies to crypto investors too. Youd better have some if you are thinking about taxes. If youve ever tried to tell the IRS I lost my receipt, you dont want to do it a second time.The I
Please share if you find this article interesting.This Week in Bitcoin: The Hunt for the Next Bitcoin Intensifies – Bitcoin NewsFeaturedWell, that just happened. What happened? Lets see: crypto penny stocks mooning. Centralized banking coins mooning. Long forgotten alt bags and even abandoned projects languishing on Cryptopia mooning. Basically everything that wasnt bitcoin mooning, bringing with it a new wave of zealots and maximalists, convinced that their coin is The One True Coin to lead the impoverished out of the wilderness and into Lamboland. Welcome to another week in bitcoin.Also read:Finance Guru James Altucher Is Launching a Cryptocurrency ExchangeMoon Rockets: Now Leaving HourlyAs the meme on 4chans /biz/ messageboard runs, He missed bitcoin. He miss
Please share if you find this article interesting.Vietnam Expedites Cryptocurrency Legal Framework Ready End of January – Bitcoin NewsRegulationThe government of Vietnam has taken steps to accelerate the adoption of cryptocurrency regulation that will affect Bitcoin. The executive power in Hanoi has insisted that the framework should be ready by the end of January. Amendments to the tax code are expected to help tap into proceeds from virtual property and digital money.Also read: Cryptocurrency Mining Soars in Vietnam Over 7000 Rigs ImportedIndochina Catching UpThe new impetus was given by a high-ranking government official who insisted on hastening the legal process. Deputy Prime Minister Vuong Dinh Hue has asked the Ministry of Justice and the State Bank to qui
Please share if you find this article interesting.New York Stock Exchange Moves on Bitcoin ETFsThe New York Stock Exchange has filed for permission to launch a number of Bitcoin-related exchange-traded funds (ETF) just one week into 2018.As reported by BusinessInsider, a filing sent to the United States Securities and Exchange Commission shows that the exchange intends to launch five different ETFs offering bull and bear futures contracts on the Arca stock exchange.These EFTs will be linked to the price of Bitcoin futures listed on the CME and CBOE exchanges, which launched Bitcoin futures contracts in December 2017:The target benchmarks value will be calculated as the last sale price published by the CME or the CBOE or any other US exchange that subsequently trades bit
Please share if you find this article interesting.Korean Government Starts Inspecting Major Banks for Crypto Regulation Compliance – Bitcoin NewsRegulationThe South Korean authorities will start inspecting major banks for their compliance with cryptocurrency regulations on Monday. This move follows the regulators recent announcement prohibiting the use of virtual bank accounts for anonymous trading.Also read:Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token SalesInspecting 6 Major BanksThe South Korean Financial Intelligence Unit (FIU), under the Financial Services Commission (FSC), and the Financial Supervisory Service (FSS) said on Sunday, January 7, that they will jointly inspect 6 major banks for compliance of cryptocurrency regulation.
Please share if you find this article interesting.Exponential Growth: Cryptocurrency Exchanges Are Adding 100,000+ Users Per DayMajor Bitcoin and cryptocurrency trading platforms within the global market have been adding more than 100,000 users per day.Many of the leading cryptocurrency exchanges such as Coinbase (GDAX), Binance, Bittrex, Bitstamp and Kraken have struggled in dealing with the abrupt surge in demand for cryptocurrencies. Some exchanges have overhauled their systems to improve their scalability, while others have temporarily stopped opening new user accounts.Unexpected growth rateThis week, Changpeng Zhao, the founder and CEO of Binance, the global markets largest cryptocurrency exchange with a staggering $9.5 bln daily trading volume, revealed that it has ad
Please share if you find this article interesting.Coinbase Withdrawal Delays Leave Users Frustrated, Crying Foul – Bitcoin NewsServicesWhen you are dealing with platforms that are supposed to be the on-ramps to the money of the future its hard to accept worse performance than the systems of the past. Unfortunately, this an issue plaguing all major cryptocurrency exchanges at the moment with Coinbase being one of the leading examples right now.Also Read: Binance Exchange Disables New User RegistrationsCoinbase DelaysSan Francisco-based cryptocurrency exchange Coinbase is experiencing several disruptions to its normal business operations. According to the companys status page, it is now facing transactions delays, wire processing delays and ID verification delays. Coin
Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.
The cryptocurrency markets achieved another comprehensive advance on Tuesday, but breaking from recent norms the bitcoin price was not leading the rally. That honor belonged to the ethereum price and litecoin price, each of whom surged to all-time highs and helped catalyze a record day for the altcoin markets.
Nevertheless, bitcoin did make a slight advance and coupled with the $20 billion altcoin rally, the total cryptocurrency market cap soared from $444.3 billion to $467.8 billion.
This, incidentally, makes the combined value of all cryptocurrencies worth more than Chinese technology conglomerate Alibaba, whose founder, Jack Ma recently said that bitcoin is not for me.
The bitcoin price rallied after U.S. exchange CBOE launched regulated bitcoin futures contracts on Sunday, but the most prominent cryptocurrencys performance was a bit more tepid during the first full day of trading. After briefly rising above $17,500, the bitcoin price settled down to a present value of $16,906. This represents a daily increase of one percent and translates into a $283 billion market cap. January futures, meanwhile, were priced at $17,730 at the time of writing.
Notably, bitcoin futures trading currently represents little more than a blip in the market. While CBOEs $50 million in first-day volume was respectable for a nascent asset class, it pales in comparison to the $12 billion in trades that bitcoin exchanges processed during the same period.
Although ethereum has been in a sustained uptrend throughout the year, it has been unable to match bitcoins gains during the fourth quarter. Consequently, it has gradually lost market share, and at one point its corner of the market dropped below 10 percent.
Tuesday brought investors a welcome change. The ethereum price leaped by 16 percent, punching through the $500 barrier and briefly extending as high as $553 a new record before ebbing back to a present value of $540. Ethereum now has a market cap of $52.1 billion, raising its market share to 11 percent.
More than three-quarters of the top 100 cryptocurrencies rose against the dollar on Tuesday, including every coin and token within the top 10. Many of these gains constituted double-digit percentage increases, which was all the more impressive considering that bitcoin only rose one percent.
The bitcoin cash price rose nearly seven percent, bringing the third-largest cryptocurrency back close to the $1,500 mark, but its performance was eclipsed by the new fourth-largest cryptocurrency: litecoin.
Just days ago, litecoin was trading in the bottom half of the top 10, but it has assembled a breathtaking rally since the weekend. In the past day alone, the litecoin price has soared more than 58 percent to a new all-time high of $260. Litecoin now has a market cap of $14.1 billion, placing it ahead of both IOTA and ripple in the rankings.
Despite losing a spot in the rankings, IOTA did post a double-digit percentage increase for the day, rising more than 13 percent to $4.90. Ripple, meanwhile, increased 11 percent to $0.275. The dash price climbed by 10 percent, bringing it within striking distance of $800, and monero posted a similar movement to bring its price near $300. Next to litecoin, the NEM price returned the best performance of any top 10 coin or token, leaping by 27 percent to $0.546. Bitcoin gold, however, rounded out the top 10 with an increase of just two percent.
Featured image from Shutterstock.
Believe it or not, Bitcoin is not the only cryptocurrency! There are thousands of cryptocurrency alternatives to Bitcoin available today each with unique differences, functionalities, and purposes.
Semantics: Altcoin isnt the name of a cryptocurrency. Rather, the term altcoin describes any cryptocurrency alternative to Bitcoin. For example, Ripple, Litecoin, and Ethereum are all technically altcoins. With that in mind, people generally use the term to describe coins with lower market capitalizations. On this site we say major alt if we mean coins with the top market caps that arent Bitcoin, and we say minor alts to describe all other cryptos. See a list of altcoins.
Simply put, altcoins are cryptocurrency alternatives to bitcoin. In general, altcoins work very similarly to bitcoin. However, there can be some minor differences between different coins. Below is a list of the most important facts about altcoins:
To learn more about the different types of available coins, be sure to visit our page Listing theCurrently Available Altcoins.
To learn more about altcoin in general and for comprehensive altcoin resources, be sure to visit altcoins.com.
Any American bitcoin investors who were hoping to avoid paying taxes for their profits this year by trading them for altcoins are in for an unpleasant surprise. New regulations have been tailored specifically to make sure U.S. taxpayers cant use this method to avoid giving the IRS their cut.
Also Read: South Africa Wants to Track and Tax Bitcoin Trading
Until today a crafty tax attorney or accountant could have tried claiming that trading bitcoin for another cryptocurrency is not a taxable event, but U.S. authorities are now moving in fast to plug this loophole. The latest tax bill contains clarifications which make this a non-valid tax-minimizing strategy going forward.
The issue arises from the IRS categorizing bitcoin as property, which can be argued makes crypto to crypto tradeslike kind exchanges underSection 1031 of the Internal Revenue Code. The new tax bill defines like kind exchanges to pertain only to real estate deals. To make things as clear as possible, this means that if you trade bitcoin for tether (USDT) for example, that is a taxable event.
Some people think, Im taking my bitcoin, which the IRS has deemed to be property, swapping it for another property and doing it for investment reasons, so it sounds like it could be a 1031 exchange, Evan Fox, tax manager at New York accounting firm Berdon, told CNBC. I think its a stretch.
According to the current tax framework, Americans need to self report their bitcoin trading profits and calculate their dues according to their tax brackets. Selling after holding the asset for less than a year qualifies as a short term investment and is taxed between 10% to 39.6%. Selling bitcoin after holding for over a year is qualified as a long-term investment and taxed up to 20%. Conveniently, if you traded over $20,000 with Coinbase the IRS already has your records.
If you put money into the cryptocurrency space, and you decide to buy (an altcoin), and you one day monetize it and show up with a $2 million house, the IRS is not stupid, Fox said. Money doesnt just appear out of nowhere.
The IRS can also decide to audit someones tax going up to three years back and is known to use the services of Chainalysis, a blockchain analysis specialist, to hunt down bitcoin users for evading taxes.
If a few years from now the IRS is able to decode what happened, and you made a significant amount of money in 2017 and didnt report it, youll face interest and penalties that have been accruing, Fox explained. It might be a risk some people want to take, but there are some bad consequences if you get caught.
Could tax authorities crack down on altcoin exchanges to make sure investors arent hiding bitcoin gains? Share your thoughts in the comments section below!
Images courtesy of Shutterstock.
Want to create your own secure cold storage bitcoin paper wallet? Check our tools section.
Read the original:
Trading Bitcoin for an Altcoin Won’t Shield You From the IRS …
Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.Litecoin is the biggest Altcoin
Even if they do not accurately understand how it works, most people are at least somewhat familiar with Bitcoin. However, once they begin to get involved with cryptocurrency, they may be surprised to learn that there are actually hundreds of types of cryptocurrencies known as altcoins. Altcoins are anintriguingfacet of the cryptocurrency landscape, but they are not foreveryone. Altcoin newcomers often have many questions, and this guide will provide a brief overview of altcoins to help beginners decide whether or not to invest in them as part of their cryptocurrency portfolio.
The word altcoin is an abbreviation of Bitcoin alternative, and thus describes every single cryptocurrency except for Bitcoin. Altcoins are referred to as Bitcoin alternatives because, at least to some extent, most altcoins hope to either replace or improve upon at least one Bitcoin component.
There are hundreds of altcoins (CoinMarketCap listed 478 at the time this guide was written), and more appear each day. Mostaltcoins are little more than Bitcoin clones, changing only minor characteristics such as its transactions speed, distribution method, or hashing algorithm. Most of these coins do not survive for very long. One exception is Litecoin, which was one of the first altcoins.In addition to using a different hashing algorithm than Bitcoin, Litecoin has a much higher number of currency units. For this reason, Litecoin has branded itself as silver to Bitcoins gold.
However, some altcoins innovate by experimenting with useful features Bitcoin does not offer. For example, Darkcoin hopes to provide a platform for completely anonymous transactions, BitShares describes itself as a fair version of Wall Street, and Ripple serves as a protocol users can employ to make inter-currency payments with ease. Some altcoin ecosystems, such as CounterParty and Mastercoin, even utilize the Bitcoin blockchain to secure their platform.
Many Bitcoin enthusiasts argue that altcoins are completely unnecessary and will not succeed because they cannot rival the infrastructure Bitcoin boasts. However, altcoins serve an important role. Decentralization is one of Bitcoins most prominent goals, and altcoins further decentralize the cryptocurrency community. Moreover, altcoins allow developers to experiment with unique features. While it is true that Bitcoin can copy these features if the developers or community desires, fully-functioning altcoins are much better cryptocurrency laboratories than Bitcoins testnet. Finally, Altcoins give Bitcoin healthy competition. Altcoins give cryptocurrency users alternative options and forces Bitcoins developers to remain active and continue innovating. If users do not feel that Bitcoin satisfies their digital desires, they can adopt an altcoin. If enough users left Bitcoin for a particular altcoin, the Bitcoin developers would have to adopt the features the community desired or risk losing its place as the preeminent cryptocurrency.
Created in April 2011, Namecoin was the first altcoin. Although it also functions as a currency, Namecoins primary purpose is to decentralize domain-name registration, which makes internet censorship much more difficult. As its place among the top ten cryptocurrency market caps suggests, Namecoin has remained one of the most successful altcoins throughout its short lifespan.
Due to how recent cryptocurrency was invented and how rapidly the landscape changes, all cryptocurrency investments carry a great deal of risk. Even Bitcoinby far the most stable cryptocurrencyexhibits price volatility on a regular basis.
By comparison, however, altcoins are exponentially more volatile. Because they have such low market caps (the total value of all coins combined), altcoin markets are highly prone to price manipulation. Wealthy traderscolloquially called whalesoften inject large amounts of capital into low-priced coins to build hype and cause the price to skyrocket. Once the price has risen considerably, the whales sell their coins on exchanges at a massive profit, hurting many gullible investors in the process. This method is known as a pump and dump. Not only does this hurt greedy traders who did not take the time to do their homework, but it often proves to be the breath of an altcoins brief lifespan.
To avoid losing all your money in a pump and dump, focus on long-term investments in coins you believe have immense potential and exhibit overall health. Generally, healthy altcoins possess strong communities, exhibit high liquidity, and have developers who proactively improve the coins source code (though not necessary, many users also prefer developers who reveal their true identities).CoinGeckos comprehensive coin metric analysis algorithm statistically analyzes these three important factors and ranks coins according to overall strength.
If you do choose to invest in altcoins, it is important to remember somebasic tenets of investing. Avoid the hype that coin communities propagate. Investors have an agenda, so you should not take their word at face value. Only invest in coins you have researched. It is unwiseto invest in something you do not understand. Making an ill-informed investment is the first step to losing your hard-earned money. Take the time to research the coins you are considering for long-term investments, and research day-trading before you attempt to become a high-volume, short-term trader. Most importantly, never invest more than you can afford to lose. Far too many people have lost their life savings by centralizing them in volatile investments.
As with Bitcoin, there are a variety of ways to obtain altcoins. The most basic way to obtain altcoins is to accept them as payment for goods or services. If you are interested in doing this, place an ad showcasing your skill-set ona cryptocurrency job board.
You can also trade for altcoins on cryptocurrency exchanges. Most exchange use Bitcoin as an intermediary (although a few include fiat pairs), so if you do not already own bitcoins you will need to buy some before you can trade for altcoins. Some of the most-trafficked exchanges include BTER,Bittrex, MintPal,Cryptsy, and BTC38 (Chinese-only).
Many altcoin communities also sponsor giveaways to increase exposure of their coin and enticenew users to join their communities. This is a great way to acquire coins if you are low on fundsor do not have marketable skills.
Featured images from Shutterstock.
Read more from the original source:
What is an Altcoin? – ccn.com
Zecoex, as with some other exchanges, started with the promoters getting besotted with bitcoins and wanting to buy some. But we had no idea what bitcoin was and how it worked. We could never place reliance on any other exchange with so many horror stories, so we decided to buy our first bitcoin and start building our own technical expertise on blockchain, and transactions.
We read and read and read, and came to the conclusion that our dear world wide web confused us more, read more… and clarified so little. Our inquisite minds then went on to download various cores, and explore transactions on the core. We hired some developers and ask them to play around with our bitcoin (yes, one split into as many fractions as permissible in satoshis after paying the network fees). All of us read together under the lamp with some article from the net in our hand. And then we started experimenting.
It did work for us. We not only understood how the blockchain worked and behaved, how to transact with wallets and open source codes, how to transact directly with the cores, how to arrive at fool proof methods of keeping our coins secure and transacting with them.
This entire expertise is at your disposal.
We will shortly launch our own hardware wallets, and start a development thread. We are hoping to catch hold of some clients to pay us mega bucks for building some custom solution for them on blockchain. But till the time we get there, feel free to interact with our engineers who are eager to pass on this knowledge, and help you resolve your technical queries, whether they are complex, or straight forward.
Read the original here:
Buy or Sell Bitcoin, Litecoin, Altcoin Multi Crypto Currency …
On October 7, 2017, the decentralized cryptocurrency trading platform Altcoin Exchange announced the team performed the first atomic swap between the Ethereum and Bitcoin blockchains. The exchange says this is the startups first step towards creating a trustless exchange process.
Also Read: Bitcoin Illegal in Nepal? Police Arrest Seven Individuals for Trading Operations
In the cryptocurrency space, atomic swaps are a pretty hot topic, and there are only a few blockchains that have exchanged this way. Atomic swaps allow two parties to transact between two blockchains in a trustless manner without counterparty risk. So far only a few altcoins have performed this function with bitcoin; including currencies like litecoin, decred, and vertcoin. On October 7th the Altcoin Exchange development team processed a swap between both bitcoin and ethereum networks.
We have completed the very first Ethereum Bitcoin atomic swap! More details coming soon, the Altcoin Exchange team announced this week.
The Altcoin Exchange team transferred 0.12345 ETH for 0.12345 BTC using an on-chain open source process. Altcoin Exchange plans to launch the projects Github repository this Tuesday, the companys CEO Andrew Gazdecki told news.Bitcoin.com.
Gazdecki tells us that decentralized exchanges are the future of cryptocurrency trading and atomic swaps will be a big part of the business model. Altcoin Exchange believes the teams demonstration of an atomic swap between ethereum and bitcoin means the centralized trading model is soon to be a memory of the past. Gazdecki explains that atomic swaps will replace traditional exchange transactions with a more secure method and just as speedy.
The team at Altcoin Exchange says they still has some work to do with the code as far as privacy and order matching comes. The group says they are also thankful for the decred development team and Litecoins Charlie Lee for help pioneering the atomic swap effort.
Since June of 2011, 26 exchanges have been compromised, resulting in the loss of millions of dollars worth of coins. To prevent more of these types of hacks, decentralized exchanges are needed, and atomic swaps bring us one step closer to achieving this goal, Gazdecki explains to news.Bitcoin.com.
What makes the technology behind Atomic Swaps so exciting is it allows for nearly instant direct trades between cryptocurrencies. We believe this to be a critical component for creating a truly decentralized exchange that executes transactions at the same speed in which centralized exchanges are able to but without the risk of hacking and theft.
The atomic swaps performed by Altcoin Exchange between the bitcoin and ethereum blockchains can be viewed here with the swap initiation, the participation, and redeem A and redeem B.
What do you think about the first atomic swap between bitcoin and ethereum? Let us know in the comments below.
Images via Shutterstock, the Altcoin Exchange, and Pixabay.
At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.
Disclaimer: Bitcoin.com does not endorse nor support this product/service.Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
A modern Altcoin Core REST and RPC client to execute administrative tasks, wallet operations and queries about network and the blockchain.
Install the package via npm:
The network will automatically determine the port to connect to, just like the bitcoind and bitcoin-cli commands.
By default, when ssl is enabled, strict checking is implicitly enabled.
For compatibility with other Altcoin Core clients.
Since version v0.14.0, it is possible to send commands via the JSON-RPC interface using named parameters instead of positional ones. This comes with the advantage of making the order of arguments irrelevant. It also helps improving the readability of certain function calls when leaving out arguments for their default value.
For instance, take the getBalance() call written using positional arguments:
It is functionally equivalent to using the named arguments account and minconf, leaving out include_watchonly (defaults to false):
This feature is available to all JSON-RPC methods that accept arguments.
By default, all methods are exposed on the client independently of the version it is connecting to. This is the most flexible option as defining methods for unavailable RPC calls does not cause any harm and the library is capable of handling a Method not found response error correctly.
However, if you prefer to be on the safe side, you can enable strict version checking. This will validate all method calls before executing the actual RPC request:
If you want to enable strict version checking for the bleeding edge version, you may set a very high version number to exclude recently deprecated calls:
To avoid potential issues with prototype references, all methods are still enumerable on the library client prototype.
Start the bitcoind with the RPC server enabled and optionally configure a username and password:
These configuration values may also be set on the bitcoin.conf file of your platform installation.
By default, port 8332 is used to listen for requests in mainnet mode, or 18332 in testnet or regtest modes. Use the network property to initialize the client on the desired mode and automatically set the respective default port. You can optionally set a custom port of your choice too.
The RPC services binds to the localhost loopback network interface, so use rpcbind to change where to bind to and rpcallowip to whitelist source IP access.
All RPC methods are exposed on the client interface as a camelcase’d version of those available on bitcoind.
For a more complete reference about which methods are available, check the RPC documentation on the Altcoin Core Developer Reference website.
Batched requests are support by passing an array to the command method with a method and optionally, parameters. The return value will be an array with all the responses.
Note that batched requests will only throw an error if the batch request itself cannot be processed. However, each individual response may contain an error akin to an individual request.
Support for the REST interface is still experimental and the API is still subject to change. These endpoints are also unauthenticated so there are certain risks which you should be aware, specifically of leaking sensitive data of the node if not correctly protected.
Error handling is still fragile so avoid passing user input.
Start the bitcoind with the REST server enabled:
These configuration values may also be set on the bitcoin.conf file of your platform installation. Use txindex=1 if you’d like to enable full transaction query support (note: this will take a considerable amount of time on the first run).
Given a block hash, returns a block, in binary, hex-encoded binary or JSON formats.
Given a block hash, returns amount of block headers in upward direction.
Returns various state info regarding block chain processing.
Returns transactions in the transaction memory pool.
Returns various information about the transaction memory pool. Only supports JSON as output format.
Given a transaction hash, returns a transaction in binary, hex-encoded binary, or JSON formats.
Query unspent transaction outputs (UTXO) for a given set of outpoints. See BIP64 for input and output serialisation.
This client supports SSL out of the box. Simply pass the SSL public certificate to the client and optionally disable strict SSL checking which will bypass SSL validation (the connection is still encrypted but the server it is connecting to may not be trusted). This is, of course, discouraged unless for testing purposes when using something like self-signed certificates.
Please note that the following procedure should only be used for testing purposes.
Generate an self-signed certificate together with an unprotected private key:
On Altcoin Core
On Altcoin Core >0.12, use must use stunnel (brew install stunnel or sudo apt-get install stunnel4) or an HTTPS reverse proxy to configure SSL since the built-in support for SSL has been removed. The trade off with stunnel is performance and simplicity versus features, as it lacks more powerful capacities such as Basic Authentication and caching which are standard in reverse proxies.
You can use stunnel by configuring stunnel.conf with the following service requirements:
The key option may be omitted if you concatenating your private and public certificates into a single stunnel.pem file.
On some versions of stunnel it is also possible to start a service using command line arguments. The equivalent would be:
Then pass the public certificate to the client:
By default, all requests made with altcoin-rpc are logged using uphold/debugnyan with altcoin-rpc as the logging namespace.
Please note that all sensitive data is obfuscated before calling the logger.
Example output defining the environment variable DEBUG=altcoin-rpc:
A custom logger can be passed via the logger option and it should implement bunyan’s log levels.
Currently the test suite is tailored for Docker (including docker-compose) due to the multitude of different bitcoind configurations that are required in order to get the test suite passing.
To test using a local installation of node.js but with dependencies (e.g. bitcoind) running inside Docker:
To test using Docker exclusively (similarly to what is done in Travis CI):