Title: Writing Raw Bitcoin Transactions with Memo (OP_RETURN) Outputs: Multi-Output Transaction Tool

Introduction

Bitcoin is a decentralized digital currency that allows users to create complex transactions with various inputs. One of the most important features of Bitcoin is the use of “memo” or “op_return” outputs, which are used to send small amounts of value to specific addresses without revealing the identity of the sender. These memo outputs are commonly used with other output types, such as UTXOs (unspent transaction outputs), to create complex transactions. In this article, we will explore a multi-output transaction tool that allows users to write raw Bitcoin transactions with memo outputs.

Why memo outputs?

Memos are useful for several reasons:

• Anonymity: Using memo outputs, you can send small amounts of value to specific addresses without revealing the identity of the sender.

• Flexibility: Memo outputs can be used in conjunction with other types of outputs to create complex transactions.

• Scalability: Memo outputs allow for a higher number of transactions per block compared to traditional UTXO outputs.

Building a CLI Tool

We will use the Bitcoin Core API to build a multi-output transaction tool using the command line interface (CLI). The following commands and configuration files are required:

• “Bitcoin-cli” is used to create and manage Bitcoin wallets, transactions, and blocks.

• “txpool” is a separate process that manages the list of unused transaction outputs (UTXO) for each wallet.

Here is an example of a Python CLI tool:

import bitcoincli
def create_transaction():









Create a new transaction
tx = bitcoincli.Transaction()

Set the output parameters for the memo
memo_out = {
'address': 'mymemoaddress', 
Memo address
'value': 0.01 
Memo value(1 satoshi)
} }

Add memo items to the transaction
for key value memo_out.items():
tx.add_output(key, bitcoincli.BitcoinValue(value))

Create a new block and add a transaction to it
block = bitcoincli.Block()
block . add_transaction ( tx ) .
return block
def main():
print("Create a new transaction with memo items:")
tx = create_transaction()
print("Transaction details:")
for output in TX.output:
print(f"{print.address} - {print.value}")
if __name__ == "__main__":
main()

This script creates a new event and adds one or more memo outputs to it. The main function prints the event data, which includes both regular and memo outputs.

Building a GUI tool

To create a graphical user interface (GUI) for this CLI tool, we will use a Python library called “pyqt5” Here is an example of how you can create a simple GUI:

“` python

import sys

from PyQt5.QtWidgets import QApplication, QWidget, QGridLayout, QLabel, QLineEdit

class TransactionTool(QWidget):

def __init__(self):

super().__init__()

self.memo_out = {}

Create the main layout

gridLayout = QGridLayout()

self . setLayout ( gridLayout )

Create labels and input fields for the memo address and value

self.memo_address_label = QLabel(“Memo Address:”)

self.memo_value_input = QLineEdit();

Add labels and input field to the grid layout

gridLayout . addWidget ( self . memo_address_label , 0 , 0 ) ;

gridLayout . addWidget ( self . memo_value_input , 0 , 1 ) ;

Create a button to send memo print parameters

send_button = QPushButton(“Submit”)

submit_button . clicked . connect ( self . submit_memo_params )

Add button to grid layout

gridLayout.

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