Bitcoin use cases with Amazon Managed Blockchain (AMB) Access Bitcoin

This topic provides a list AMB Access Bitcoin use cases

Build a Bitcoin (BTC) wallet to send and receive BTC

BTC, the native cryptocurrency on the Bitcoin network, serves as an essential component of the network's security model. It also acts as a commodity and medium of exchange, widely used by institutions, businesses, and individuals. Consequently, many wallet applications rely on Bitcoin nodes to interact with the Bitcoin blockchain. These applications calculate the balance of unspent outputs (UTXOs) for a given set of addresses, sign and send transactions to the Bitcoin network, and retrieve data about historical transactions.

The following is a sample of some of the Bitcoin JSON-RPCs that Amazon Managed Blockchain (AMB) Access Bitcoin supports for BTC wallet transactions:

For more information, see Supported JSON-RPCs.

Analyze activity on the Bitcoin blockchain

You can analyze the volume of transaction activity on the Bitcoin blockchain by using the getchaintxstats JSON-RPC method. This JSON-RPC allows you to access metrics such as average transaction rates per second, total transaction count, block count, and more. You can also define a window of block numbers or a block hash as a delimiter to calculate these statistics for a specific set of blocks in the network, if desired.

For more information, see Supported JSON-RPCs.

Verify messages signed using a Bitcoin key pair

Bitcoin wallets have a private key and a public key that make up a key pair. These keys are used to sign transactions and serve as the user's identity on the blockchain. The public key is used to create addresses, which are standardized alphanumeric identifiers (27 to 34 characters long). These addresses are used to receive BTC outputs and handle transactions or messages.

With a Bitcoin wallet, users can also sign and verify messages cryptographically. This process is often used to prove ownership of a specific wallet address and the BTC associated with it. By using the verifymessage Bitcoin JSON-RPC, you can check the authenticity and validity of a message signed by another wallet. Specifically, a Bitcoin node can be used to verify if a message has been signed using the private key corresponding to the provided public key derived address within the signed message itself.

For more information, see Supported JSON-RPCs.

Inspect the Bitcoin mempool

Many applications need to access the mempool to keep track of pending transactions, get a list of all pending transactions, or find out where a transaction came from. To do this, there are Bitcoin JSON-RPCs like getmempoolancestors, getmempoolentry, and getrawmempool that support this activity. These Bitcoin JSON-RPCs help applications get the information they need from the mempool.

Amazon Managed Blockchain (AMB) Access Bitcoin also supports the testmempoolaccept Bitcoin JSON-RPCs, which allows you to verify if a transaction meets protocol rules and would be accepted by a node before submitting. Wallets, exchanges, and any other entities who directly submit transactions to the Bitcoin blockchain utilize these Bitcoin JSON-RPCs.

For more information, see Supported JSON-RPCs.