Creating a Pure Python Transaction without Bitcoin Locally

In this article, we will explore the possibility of creating a transaction in pure Python using only the underlying Bitcoin protocol and without using Bitcoin locally. We will also look at how to sign transactions with your private key.

What is a signed agreement?

A Bitcoin signed transaction is essentially a message that contains the identity of the sender (public key) and a digital signature that proves that the sender controls their private keys. A signature is created using a public and private key pair, where the public key is used to identify the sender and the private key is used to sign the transaction.

Can we create a signed transaction using pure Python?

Yes, it is possible to create a signed transaction in pure Python without Bitcoin locally. We use the “bitcoin” library as an implementation, which provides a Python interface to interact with the Bitcoin network.

Here is a sample code snippet showing how to create a transaction signed with your private key:

import bitcoin
def get_public_key(private_key):
"""Retrieve the recipient's public key from the private key."""
return bitcoin.PublicKey.from_private_key(private_key)
def sign_transaction(transaction, private_key):
"""Sign the transaction with the provided private key."""
sender = event.sender
signature = bitcoin.Signature.sign(
trade,
bitcoin.PublicKey.get_from_string(sender)
)
return {
'signature': bitcoin.Signature.to_string(signature),
'private_key': private_key.hex()
}









Example usage:
private_key = bitcoin.PrivateKey.from_hex('0123456789012345678901234567890abcdef') 
Replace with your private key
event = {
'sender': {
'address': '1A2B3C4D5E6F7G8H9I0J',
'amount': 10.0 
in BTC
},
'signature': "1234567890123456789012345678901234567890abcdef"
}
signed_transaction = signing_transaction(transaction, private_key)
print(signed_event)

In this example, we create a “Bitcoin” object using the private key as input. We then use the Signature.sign() method to create a signature for the transaction that includes both the sender’s public key and the transaction data.

The resulting dictionary contains information about the signed transaction, including the signature and the private key used to sign it.

Is this possible?

While it is possible to create a signed transaction in pure Python using the underlying Bitcoin protocol, there are some limitations to consider:

• The “Bitcoin” library is designed to interact with Bitcoin at the protocol level, not to create raw transactions for the Bitcoin network to verify and execute.

• You must have access to a Bitcoin node or an interface to the Bitcoin blockchain to verify and execute the signed transaction online.

• The `Signature.sign() method creates a single signature that covers all the transaction data. If you want to create multiple signatures for different parts of a transaction, you may need to use a different approach.

In summary, while it is technically possible to create a signed transaction in pure Python without using Bitcoin locally, some additional setup and considerations are required to work effectively with Bitcoin’s underlying protocol.