Ethereum: How to use a watch-only wallet in Bitcoin Core?

Using a Watch-Only Wallet with Ethereum in Bitcoin Core

As a user of the popular Bitcoin Core (BTC) client, you may have noticed that it allows you to create watch-only wallets for secure and private transactions. In this article, we’ll explore how to use a watch-only wallet created using the bitcoin-cli command-line tool with Bitcoin Core v23.0.

Step 1: Create a Watch-Only Wallet

To begin, you need to create a watch-only wallet using the following command:

$ bitcoin-cli -regtest createwallet "test" true

This command creates a new watch-only wallet named test and sets the disable_private_keys option to true.

Step 2: Verify the Watch-Only Wallet Creation

After creating the wallet, verify that it was created successfully:

$ bitcoin-cli -regtest listwallets | grep test

The output should show the newly created watch-only wallet with the name test. You can also use the -regtest option to get more detailed information about the wallet.

Step 3: Import the Watch-Only Wallet into Bitcoin Core

Once you’ve verified that your new wallet is working, it’s time to import it into Bitcoin Core. To do this, follow these steps:

• Open a terminal or command prompt.

• Start a new session in Bitcoin Core by running:

$ bitcoin-cli -regtest start

This will launch the Bitcoin Core client and create a new instance of the wallet.

• From within the Bitcoin Core session, go to Settings > Wallets and select your newly created watch-only wallet: test.

Step 4: Create a New Transaction

Now that you have your watch-only wallet imported into Bitcoin Core, you can create a new transaction using the following command:

$ bitcoin-cli -regtest sendfrom "test" < path/to/transaction/file

Replace with the location of your transaction file. This will initiate a new transaction from the test wallet to a specified recipient.

Step 5: Verify the Transaction

To verify that the transaction was successful, you can use the following command:

$ bitcoin-cli -regtest sendfrom "test" < path/to/transaction/file > /dev/null

This will output confirmation that the transaction was processed successfully.

That’s it! With these steps, you’ve successfully used a watch-only wallet created with Bitcoin Core v23.0 to create and verify a new transaction.

Tips and Variations

• If your wallet is not showing up in the regtest list, try restarting Bitcoin Core or checking for any issues with your internet connection.

• To view more detailed information about your wallet, you can use the -regtest option with additional flags, such as --listwallets to display all wallets in the system.

• You can also import a watch-only wallet from an existing Bitcoin Core session by using the -regtest option and specifying the path to the imported wallet file.

ETHEREUM CODES THEM REQUEST WALLET