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'Hi everyone!

Any suggestions for an architecture to reach to Bitcoin's wallet structure for Ethereum?

Appreciate any help, R.

  • Geth version: 1.10.12-stable
  • Geth's web3 api version: 0.20.1
  • OS: Windows
  • web3.py version: 5.25.0
  • python version: 3.10.1
  • I started my geth using the following command: geth console --goerli --syncmode "light" --http --http.port 20000 --http.api personal,eth,net,web3 --allow-insecure-unlock
  • Related questions: #1 and #2
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Any suggestions for an architecture to reach to Bitcoin's wallet structure for Ethereum?

My suggestion is don't. Ethereum is not a UTXO blockhain, but an account-based one. Any Bitcoin like wallet structure on Ethereum is not practical, or not needed.

For creating a hot wallet please see this answer.

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    Thanks again for your useful reply. Are you referring to this approach? If yes, I did implement a modified version of this structure, but the problem was the high fee for users' contract deployment (~300k gas, ~$100 for each user's contract address). And, although I managed transferring ETH funds to the owner account without paying fee, but still had to pay fee for transferring erc20s to the owner's account. how can I minimize contract address creation & erc20 deposit fees (to send to the owner or automize it)?
    – Rouhollah Joveini
    Commented Jan 12, 2022 at 15:07
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    If the fees are problem then just don't use Ethereum. Use some of alternative EVM compatible chains like Avalanche, Polygon. There is little you can do for the fee problem.
    – Mikko Ohtamaa
    Commented Jan 12, 2022 at 15:47
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    Thank you again for your great and innovative suggestions. As I do not have any idea on your suggestions, you mean that I can deploy my contract addresses on those chains and still be able to receive ETH and other ERC20s, with lower fees for deployment and deposits/withdrawals? I should go for it and test that. Aware of a start point? Thanks again.
    – Rouhollah Joveini
    Commented Jan 12, 2022 at 17:01
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    Yes. However, each blockchain has its own set of available tokens. There is some chain interoperability. For example, you can get the most popular tokens bridged to Polygon - transferred over Polygon bridge. So you are not getting the same set of tokens you would get on Ethereum mainnet. You are getting a different set of tokens.
    – Mikko Ohtamaa
    Commented Jan 12, 2022 at 17:25
  • I am on coinmarketcap's top-100s (which contains 44 erc20s). I hope that I be able to do the job for those 44s.. I will report the results here. Thanks again in advance
    – Rouhollah Joveini
    Commented Jan 13, 2022 at 5:06

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