Exchanges

This section describes how to integrate the 1Money Network into an exchange.

Connect to the 1Money Network

Make sure you are connected to the 1Money Network's Rest API Endpoints and Websockets.

Deposits

Note that the 1Money Network has checkpoints instead of blocks. You can think of a checkpoint as similar to the concept of a block in traditional blockchains. A checkpoint in the 1Money Network represents a specific point in time that captures the current state of each account, including newly distributed transaction fees credited to validators’ accounts.

Learn more about checkpoints in the system components section.

Exchanges should follow these steps for deposits:

1. Track the latest checkpoint and transaction data

   • Use the get checkpoint by latest number API to get the latest checkpoint number

   • Compare the network's checkpoint number to your local checkpoint number and make sure they match

   • If they match, then use the get checkpoint by number API to pull all the transaction data from that checkpoint

     • Input the checkpoint number and set full=true. For example: https://api.testnet.1money.network/v1/checkpoints/by_number?number=1000&full=true

2. Confirm customer deposit

   • Match your customer's address with the data structure in the transaction data queried in part 1 (above)

   • Once the customer deposit is confirmed, credit the balance to your local database

   • As a check, exchanges can use the get account balance API to ensure the customer deposits are correct compared to their local database

Withdrawals

To initiate a withdrawal, an exchange should:

1. Prepare the transaction with a private key signature

   • Use the submit payment API to prepare the transaction

2. Send signed transaction to the network

In special instances where a transaction is not approved by 2/3 of the validators, an exchange can cancel a transaction using the submit cancellation API.

How to check on the status of your transaction

Follow these steps to check on the status of your transaction:

1. Once you submitted a transaction, you will automatically get a hash as a return

2. Use Get Transaction Receipt by Hash to check the transaction status

Note that transactions on the network are finalized instantly, so there is no need wait for a checkpoint to be generated.

Additional Resources

• Transaction types — all possible transaction types, including relevant documentation