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85 lines
4.7 KiB
Markdown
85 lines
4.7 KiB
Markdown
# Onchain Wallet (watch-only)
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## Monitor an onchain wallet and generate addresses for onchain payments
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Monitor an extended public key and generate deterministic fresh public keys with this simple watch only wallet. Invoice payments can also be generated, both through a publically shareable page and API.
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You can now use this wallet on the LNBits [SatsPayServer](https://github.com/lnbits/lnbits/blob/master/lnbits/extensions/satspay/README.md) extension
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### Wallet Account
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- a user can add one or more `xPubs` or `descriptors`
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- the `xPub` fingerprint must be unique per user
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- such and entry is called an `Wallet Account`
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- the addresses in a `Wallet Account` are split into `Receive Addresses` and `Change Address`
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- the user interacts directly only with the `Receive Addresses` (by sharing them)
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- see [BIP44](https://github.com/bitcoin/bips/blob/master/bip-0044.mediawiki#account-discovery) for more details
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- same `xPub` will always generate the same addresses (deterministic)
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- when a `Wallet Account` is created, there are generated `20 Receive Addresses` and `5 Change Address`
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- the limits can be change from the `Config` page (see `screenshot 1`)
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- regular wallets only scan up to `20` empty receive addresses. If the user generates addresses beyond this limit a warning is shown (see `screenshot 4`)
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### Scan Blockchain
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- when the user clicks `Scan Blockchain`, the wallet will loop over the all addresses (for each account)
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- if funds are found, then the list is extended
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- will scan addresses for all wallet accounts
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- the search is done on the client-side (using the `mempool.space` API). `mempool.space` has a limit on the number of req/sec, therefore it is expected for the scanning to start fast, but slow down as more HTTP requests have to be retried
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- addresses can also be rescanned individually form the `Address Details` section (`Addresses` tab) of each address
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### New Receive Address
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- the `New Receive Address` button show the user the NEXT un-used address
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- un-used means funds have not already been sent to that address AND the address has not already been shared
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- internally there is a counter that keeps track of the last shared address
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- it is possible to add a `Note` to each address in order to remember when/with whom it was shared
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- mind the gap (`screenshot 4`)
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### Addresses Tab
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- the `Addresses` tab contains a list with the addresses for all the `Wallet Accounts`
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- only one entry per address will be shown (even if there are multiple UTXOs at that address)
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- several filter criteria can be applied
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- unconfirmed funds are also taken into account
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- `Address Details` can be viewed by clicking the `Expand` button
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### History Tap
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- shows the chronological order of transactions
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- it shows unconfirmed transactions at the top
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- it can be exported as CSV file
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### Coins Tab
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- shows the UTXOs for all wallets
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- there can be multiple UTXOs for the same address
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### Make Payment
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- create a new `Partially Signed Bitcoin Transaction`
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- multiple `Send Addresses` can be added
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- the `Max` button next to an address is for sending the remaining funds to this address (no change)
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- the user can select the inputs (UTXOs) manually, or it can use of the basic selection algorithms
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- amounts have to be provided for the `Send Addresses` beforehand (so the algorithm knows the amount to be selected)
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- `Show Advanced` allows to (see `screenshot 2`):
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- select from which account the change address will be selected (defaults to the first one)
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- select the `Fee Rate`
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- it defaults to the `Medium` value at the moment the `Make Payment` button was clicked
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- it can be refreshed
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- warnings are shown if the fee is too Low or to High
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### Create PSBT
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- based on the Inputs & Outputs selected by the user a PSBT will be generated
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- this wallet is watch-only, therefore does not support signing
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- it is not mandatory for the `Selected Amount` to be grater than `Payed Amount`
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- the generated PSBT can be combined with other PSBTs that add more inputs.
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- the generated PSBT can be imported for signing into different wallets like Electrum
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- import the PSBT into Electrum and check the In/Outs/Fee (see `screenshot 3`)
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## Screensots
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- screenshot 1:
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- screenshot 2:
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- screenshot 3:
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- screenshot 4:
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