Welcome to the Secure Bitcoin Wallet on IBM LinuxONE¶

Overview¶

This application is a secure Electrum Bitcoin wallet found at this GitHub repository. You can use it to store the identities necessary to transact on the Bitcoin public blockchain network. While this version of the wallet is just a proof of concept, running this type of wallet on Hyper Protect enables you to protect your digital assets from bad actors such as malicious server administrators.

Info

This Electrum Bitcoin wallet functions regularly, while inheriting the security benefits of the Hyper Protect Virtual Server platform. This ensures that a legitimate version of the application is running (Secure Image Build process) and that administrators cannot compromise the application (Hyper Protect Virtual Server deployment).

Account Registration¶

Registering a fake account for lab purposes.

Choose Register since you won't have an existing account on the newly deployed server.
Enter the registration details you desire.

Tip

Do not worry about the information you enter on the registration page shown above as it won't map to anything. You just need your password to log back in if you log out of the application.

Wallet initialization¶

It's time to set up your Secure Electrum Bitcoin wallet itself!

Bring up the wallet screen
Enter in a password for your wallet and click Create Wallet
Load your newly created wallet to enable it
Reload the page.
Your wallet is ready for use in all of its glory

Receiving Bitcoins¶

A wallet without currency is blasphemy, so it's time to fill it on up with fake bitcoins.

Go to the Receive section of the wallet and get the bitcoin wallet address.

Info

This is the address whose allotted bitcoins you lay claim to.
Open this bitcoin test faucet site [click on the link] and use it to transfer bitcoin value to the Receiving address in your wallet from step 1 above.

Note

Instead of transacting on the "real" bitcoin blockchain network, we are using a testnet. This means that the network participants agree that the assets on the network have no value. Testnets are used for testing changes to the network, testing applications and introducing new users to the technical aspects of network. There are testnets for many of the public blockchain networks including of course bitcoin and ethereum. Test faucets (like the one we are using) act as distributors of tokens to other users on the testnet.
Switch back to your wallet tab and go to the History section and then reload the page.
You should now see your wallet address as the recipient of a pending transaction from the bitcoin testnet faucet.
After clicking for more information you get a detailed transaction overview

Info

The number of confirmations a block receives is the number of blocks deep the block that has included the blockchain transaction is. In other words, 1 confirmation means that the current head block includes the transaction. 2 confirmations means that the current head block's parent block contains the transaction and so on. The deeper the transaction is (more confirmations it has) the more mining power it would take to "reverse history" and undo the transaction.

Since there are 0 confirmations in the picture above, it means that the transaction is not yet included in a block. This is why it has no timestamp yet and its block number is listed as 0.
After waiting anywhere from a minute to a few minutes (depending on the current testnet traffic) you should see a confirmation on your transaction.

Tip

You will need to keep reloading the page for it to update. It doesn't update automatically.

There is now a timestamp and a block number!

Info

As time passes more confirmations will accumulate. You can check on the confirmations again at the end of the lab to show yourself this (Given enough time has passed for one or more additional confirmation(s) to occur).

Returning Bitcoins¶

Since you are feeling charitable you decide to transfer your testnet value back to the faucet's address.

Go back to the faucet site and get its bitcoin address
Tip

This address is here for easy copy and paste (ensure this matches what the application shows in the browser before using this, as the bitcoin address they use for returning funds changes occasionally):
```
tb1ql7w62elx9ucw4pj5lgw4l028hmuw80sndtntxt
```
Send bitcoins to faucet using Send section of wallet
Once sent you will see the Signed transaction information filled out on your wallet page.
You can go back to the bitcoin faucet site and see the transaction as green there with a sender of your address and a transaction ID matching the one you sent.
You can view both the initial received transaction and the newly sent transaction in the History tab of your bitcoin wallet.

Tip

You have to keep reloading the page for it to update with new confirmations.

Info

If you wait long enough, eventually these transactions will gain confirmations as in the picture below
You can continue to play around with the electrum wallet before moving on.

Summary¶

Success

You have participated in the bitcoin testnet using a securely built electrum bitcoin wallet powered by a Hyper Protect Virtual Server. Congratulations!!!

Now, it's time to clean up...

Last update: June 13, 2023
Created: June 22, 2020