Here is an article on how to create a Python script that listens for transactions on the Bitcoin network and monitors addresses stored in a MySQL database:
Ethereum: The Starting Point for Listening to Bitcoin Network Transactions in Python
Bitcoin, the second-largest cryptocurrency by market cap, uses a decentralized network of nodes to validate and record transactions. In this article, we will learn how to create a Python script that listens for transactions on the Bitcoin network and monitors addresses stored in a MySQL database.
Prerequisites
Step 1: Install the required libraries
Before you begin, you will need to install the following libraries:
mysql-connector-python
to interact with MySQL databasespy bitcoin-core
to work with Bitcoin transactions (Note: this is not a complete Bitcoin node implementation)You can install these libraries using pip:
pip install mysql-connector-python pybitcoincore
Step 2: Create a Python script
Create a new Python file, for example bitcoin_listener.py
, and add the following code:
“`python
import mysql.connector
import json
MySQL database connection parameters
DB_HOST = ‘localhost’
DB_USER = ‘username’
DB_PASSWORD = ‘your_password’
DB_NAME = “bitcoin_transactions”
Bitcoin node connection settings
BITCOIN_NODE_URL = “
BITCOIN_NODE_SECRET = ‘your_secret_key’
This should not be distributed publicly
definition of connect_to_mysql():
“””Establish a connection to the MySQL database”””
return mysql.connector.connect(
host=DB_HOST,
user=DB_USER,
password=DB_PASSWORD,
database=DB_NAME
)
def get_bitcoin_transactions():
“””Retrieve Bitcoin transactions from the node”””
Send a P2P request to the Bitcoin node
response = requests.get(BITCOIN_NODE_URL)
data = json.loads(response.text)
Extract addresses and amounts from transactions
transactions = []
for data item [“transactions”]:
address = item[‘of’]
amount = item[‘value’]
transactions.append({
“address”: address,
‘amount’: amount
})
return transactions
main definition():
“””Listen for transactions on the Bitcoin network”””
Establish a connection to the MySQL database
db_connection = connect_to_mysql()
Fetch Bitcoin transactions from the node
transactions = get_bitcoin_transactions()
Iterate over transactions and monitor addresses in the MySQL database
for transactions in transactions:
address = transaction[‘address’]
amount = transaction[‘amount’]
Check if the address exists in the MySQL database
cursor = db_connection.cursor()
query = “SELECT * FROM bitcoin_transactions WHERE address=%s AND timestamp>=%s”
cursor.execute(query, (address, datetime.now()))
result = cursor.fetchone()
If address is found, update amount and timestamp in database
if result:
new_amount = transaction[‘amount’] + 10
Simulate transaction with 10 unit increment
query = “UPDATE bitcoin_transactions SET amount=%s, timestamp=NOW() WHERE address=%s”
cursor.execute(query, (new_amount, address))
Print results to console
print(f”Address: {address} | Amount: {amount} | Time: {datetime.now()}”)
Close the MySQL database connection
db_connection.