Building an Accounting system


#1

I wonder if I could just use single wallet with multiple addresses so I can build accounting system inside my app. so If I don’t use accounts or wallets, will I hit a scalability issue while handling lots of addresses in a single wallet?


#2

Single wallet can have 2^64 addresses. I think it is safe to assume you will never need this much )

The other problem is that the Daedalus API at this point does not allow to select which addresses to use when sending coins, since it is not that kind of an address conceptually. So if you have 10 addresses in your wallet with some coins on the each of them, and then you create a transaction to send some coins - those coins may be withdrawn from ANY of those 10 addresses or even from multiple addresses at once.

The best thing would be to wait for the API V1 release (version 1.2, somewhere in may) - in this version each wallet will have separate accounts and when sending transactions - you can specify which account to use, so it only will withdraw coins from its addresses.

Each wallet may have 2^32 accounts which is 4’294’967’296 - I hope this will be enough for your application :slight_smile: If you hit this limit - you gonna have to create another wallet and then also track which wallet your are referring to.

Note also, that each account may have 2^32 addresses. You still can’t directly specify which addresses to spend, but you can create new addresses yo receive coins.

Hope it helps.


#3

I actually am fine with a common balance accross the addresses (I will keep track of balances from my app db). I am actually not using daedalus at all, just the cardano-sl wallet. :slight_smile: So I will probably just skip on using accounts* and wallets* altogether.


#4

Also, be aware that API V1 will NOT provide a function to see the balance of a separate address. You will only be able to know the balance of an account or the balance of a wallet. Otherwise - whatever suits your needs :slight_smile: :+1:


#5

By the way, is there no chat community setup for cardano? Like slack or IRC? Because I kind of might have hundred more questions :slight_smile:


#6

#7

Ok thanks allot!