Ethereum: How to make a taproot transaction with bitcoin-cli?
Create Taproot Transaction with Bitcoin-Cli a Testnet
In the world of blockchain development, Taproot is a key feature that allows more efficient and private transactions. Here is a detailed guide to make a Taproot transaction using Bitcoin-Cli for Testnet.
What is Taproot?
Taproot is a new bitcoin core protocol to increase the speed of transactions and reduce the number of transactions necessary by block. It makes it allow nodes to use a single direction format called Addreses Taproot, which is more resistant to censorship and is easier to administer.
Assumptions:
- Be sure to have installed Bitcoin-Cli on the local machine.
- Have a testnet node on your computer (more about how to do it below).
- Know the Bitcoin-Cli command line interface.
Step by step guide:
Here is a simple step by step to make a Taproot transaction using Bitcoin-Cli for Testnet:
1.
`Bash
Bitcoin -cli Createblock -Target = 0
This command creates a new block with an initial amount of 10,000 units (or 1 satoshis) and the destination of one year.
- Create Taproot Transaction: Now that we have a new block, we create a Taproot transaction.
Bash
Bitcoin -cli tx
This command creates a new Taproot transaction that uses "Myseeed" as a sender and a hash block of our newly created block (s 4f6a1d … The part will be replaced by its actual blocking data).
Choice-Private-Key = It is used to enter a private key for our Taproot transaction.
- Firm the transaction : Now that we have a new Taproot transaction, firm with our private key.
Bash
Bitcoin -cli tx
This command will sign a transaction using our private and exit by signature.
Testnet example:
To facilitate the follow -up, create a new Testnet node and use it as our "Myseed" for this example. Here are the steps:
- Create a new testnet node using bitcoin-cli:
Bash
Bitcoin -cli Createblock -Target = 0
Replacefor your real phrase.
- Firm the block hash using "Myseeeds" as sending and a block hash of our newly created block (with4f6a1d …
part replaced by your real block data):
Bash
Bitcoin -cli tx
This will issue a new Taproot transaction.
Tips and variations:
- Be sure to replace
when creating a testnet node.
- You can also use the
Kif you have it to enter a private key.
- To sign a transaction without entering a private password, use
bitcoin -cli tx.-target = 0 —Sign
- If you have problems signing a transaction, make sure your private key is in the right format and has updated the knot configuration to contain a testnet node.
According to these steps, I should be able to create a new Taproot transaction using Bitcoin-Cli for Testnet. Be sure to update the configuration of your node to include a testnet node, as we have already mentioned. Happy codification!
