Introducing Dynamic's BitcoinKit

One of our core principles at Dynamic is to make wallet-based authentication as simple as possible for developers. With that in mind, we’re excited to announce BitcoinKit, powered by Dynamic, to support the OG chain of chains: Bitcoin.

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What is Dynamic's BitcoinKit?

Our BitcoinKit is a powerful solution designed to simplify integrating Bitcoin into your applications, all while providing a user experience reminiscent of Ethereum wallet adapters. Dynamic empowers you to easily add Bitcoin wallets and connectors to manage your assets across all the common Bitcoin wallets.

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We built this by leveraging both the Bitcoin Wallet Standard and the custom requirements of different wallets. One of the main benefits of using BitcoinKit is that we abstracted away the subtle differences across these wallets so you don't have to worry about them. In short, you get a simple interface to work with the most common Bitcoin-supported wallets.

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Set up Dynamic’s BitcoinKit in just a few minutes:

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This feature is available today - try it here! You can learn more about it in our docs here, and you can book a quick call to chat with us here.

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Frequently Asked Questions:

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‍How do I get started with Dynamic's BitcoinKit?

1. Go to app.dynamic.xyz and sign up for your free account.

2. Add the “@dynamic-labs/bitcoin” package

3. Add it to your walletConnectors prop in Dynamic context 

4. Enable the chain in your developer dashboard. That’s it, you can now support Bitcoin wallets

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Which Wallets do you support?

We support the most popular Bitcoin wallets:

• MagicEden
• Leather
• OKX
• Unisat
• Xverse
• Phantom (coming soon)

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What is a satoshi?

• This smallest unit allows for transactions involving very small amounts of Bitcoin, facilitating microtransactions and improving the granularity of payments in the Bitcoin network.
• 1 Bitcoin = 100,000,000 Satoshis

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What are psbts?

A partially signed Bitcoin transaction (PSBT) is a standard for collecting multiple signatures for a single transaction. This allows different participants with different keys/signers to sign a transaction without revealing their private keys to others. Multi-sig wallets utilize these. This allows for a multi-step transaction process which is both safer and more efficient.

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Why do you display 2 addresses for Bitcoin?

Bitcoin wallets have multiple addresses and in particular, we leverage the ordinal address and the payment address.

‍Bitcoin Ordinals

• Purpose: Ordinals are a recent innovation that allows for the inscription of arbitrary data directly onto individual satoshis, the smallest unit of bitcoin (1 bitcoin = 100,000,000 satoshis). This data can include text, images, and even small programs. The concept of ordinals essentially turns these satoshis into unique, non-fungible tokens (NFTs) within the Bitcoin blockchain.
• Functionality: Each satoshi is given a sequential number (ordinal number) based on its position in the overall supply. Ordinals allow for the tracking and transferring of individual satoshis, along with any inscribed data they carry. This is achieved without altering Bitcoin's core protocol but rather by utilizing existing transaction capabilities in innovative ways.

Bitcoin Payment Addresses

• Purpose: Payment addresses are used to receive and send Bitcoin in transactions. They are an essential part of the Bitcoin protocol, providing a user-friendly way to direct transactions to a specific wallet. Payment addresses are generated from public keys and provide a layer of privacy by not directly exposing the wallet's public key.
• Functionality: A Bitcoin payment address is a string of alphanumeric characters, derived from cryptographic keys, that represents a destination for a Bitcoin payment. There are several types of addresses, each with its own features regarding security, efficiency, and compatibility.

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Where can I see this in action?

• Go to demo.dynamic.xyz and enable the Bitcoin chain (you can disable the other chains if you just want to see Bitcoin). Try connecting and signing, and check out the hooks and methods page to see more methods.

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