Understanding the Payment Flow
In our platform's model, we facilitate 100% buyer-seller transactions where the platform creates and ships the physical goods. This eliminates traditional escrow concerns since payment verification automatically triggers shipment.
Here's how our Bitcoin payment system works:
Key Participants in a Transaction
- Item: Priced at 100 BTC
- Buyer (A)
- Seller (B): Wallet address
bbb
- Referrer (C): Wallet address
ccc
(receives 1% commission) - Platform Wallet: Address
ppp
- Fee Structure: 3% transaction fee
๐ Best practices for crypto payment integration
Step-by-Step Transaction Process
Phase 1: Buyer Initiation
- Buyer clicks "Confirm Purchase"
System generates Transaction 1 (TX1):
- Payment: 100 BTC from A โ
ppp
- Time limit: 15 minutes
- Payment: 100 BTC from A โ
Payment verification:
if paymentFailure { cancelOrder() } else { proceedToPhase2() }
Phase 2: Fund Distribution
After TX1 confirmation, system creates TX2 with three outputs:
- Seller: 96 BTC to
bbb
- Referrer: 1 BTC to
ccc
- Platform Fees: 3 BTC (change)
Phase 3: Order Fulfillment
Upon TX2 confirmation:
- System automatically ships Item 1 to Buyer A
- Transaction marked complete
Technical Implementation Options
Node Infrastructure Considerations
Contrary to common assumptions, you don't necessarily need:
- Self-hosted full nodes
- Complex server architecture
Instead, consider:
- Lightweight SPV (Simplified Payment Verification): For basic transaction verification
- Third-party API services: For blockchain interaction
- Hybrid approach: Combining API services with selective full node usage
๐ Optimizing blockchain transactions in Go
Frequently Asked Questions
Q1: What's the minimum viable setup for BTC payments?
A: For most e-commerce platforms, SPV clients with API fallbacks provide sufficient security without full node overhead.
Q2: How does Go language facilitate this implementation?
A: Go's concurrent processing and strong cryptography libraries make it ideal for building efficient payment verifiers.
Q3: What about transaction speed limitations?
A: While Bitcoin has inherent block time limitations, proper fee estimation in your Go implementation ensures timely confirmations.
Q4: Is wallet security compromised without full nodes?
A: Not necessarily. Properly implemented SPV with merkle proof verification maintains security for payment verification purposes.
Key Recommendations
- Prioritize Payment Verification over full blockchain storage
- Implement Robust Error Handling for transaction failures
- Use Fee Estimation Algorithms to ensure timely confirmations
- Consider UTXO Management in your Go implementation
For platforms handling <100 daily transactions, API-based solutions often provide the best cost/benefit ratio while maintaining adequate decentralization principles.