Assignment 3
In this assignment, you will use the Bitcoin testnet to conduct Bitcoin transactions.
First create a private key, a public key, and a Bitcoin address on the testnet, using this website: https://www.bitaddress.org/
To generate a testnet address, append ?testnet=true to the browser URL when you access the website address above. You should see “TESTNET EDITION ACTIVATED”.
Save your Bitcoin address, and (securely) save your private key.
- What is your Bitcoin address on testnet?
- What is your public key?
You can receive coins on the testnet from a “faucet” that can send non-monetary coins to your address. Use https://testnet-faucet.mempool.co/ to receive 0.005 coins.
- What is this transaction ID?
Use https://blockstream.info/testnet to answer the following:
- What is the transaction fee?
- What is the block number that included this transaction?
- Estimate how long did the transaction take to get included in a block
Using the Python Bit library (https://ofek.dev/bit), verify the following:
- Your Bitcoin address on testnet, given your private key
- Your balance in bitcoin (btc)
Also, using the Bit library, create a transaction and send 1 mBTC to the following address: mh4SbUqFzWzC6KhfUtLmZ5ch3iFwVQURjM
- What is the transaction ID for this new transaction?
- What is the block number that includes this transaction?
- What was the transaction fee?
- Verify your new balance after the transaction.