Release Notes 1.2

Release Notes 1.2

We just have released an update of our API to version 1.2 which features lots of improvements that result in increased capacity and reliability of our system. Nearly all features were requested by our clients, as we aim to deliver the best possible benefit of our solution.

Tangany WaaS follows the semantic versioning specification. The new release 1.2 is considered “minor” and therefore is fully backward-compatible to the previous 1.x releases. No adjustments are required on current implementations.

Please find the highlights of the release below.

Ethereum

[New] ERC20 Approve and TransferFrom

• It is now possible to use the Ethereum standard to withdraw a specified amount of tokens from a different account

• Use approve to define a token allowance for a specific account

• Use transferFrom to withdraw the preapproved token amount from the approving account

[New] ERC20 Extension Burn and Mint

• Create tokens inside a wallet for supported contracts with mint

• Destroy a number of tokens inside a wallet with burn

[Update] Default value for Ethereum network

• The custom header tangany-ethereum-network can now be omitted from calls since its default value is now pre-set to the Ethereum mainnet

Bitcoin

[New] Upgrade to SegWit-ready wallets

• All new generated wallets will automatically use SegWit that results in lower transaction weight and with that lowest possible transaction fees

[New] Sending to multiple recipients in a single transaction

• Further, reduce the transaction fees by multiplexing multiple recipients into a single transaction call

[New] Fee estimation

• Simulate a transaction to estimate the transaction fee at the current point of time

• The returned estimation represents the fee to execute the transaction within the target block confirmation time

[New] Speed Level

• Choose between three levels of transaction speed via the tangany-bitcoin-tx-speed header to target a block confirmation time of:

• Default: within 6 blocks (~ 1 hour)

• Fast: within 2 blocks (~ 20 minutes)

• Slow: within 24 blocks (~ 4 hours)

• If nothing is specified, the default value will be used

[New] Confidence Level

• Set the confidence level via the tangany-bitcoin-tx-confirmations header to ensure the inclusion of verified transactions outputs into wallet balance calculation

• The level determines the target block confirmations amount in order to consider a transaction output as part of the total wallet balance as “confirmed” and valid

• As Bitcoin is a utxo-based blockchain, it is important to ensure that any outputs that are part of a wallet’s total balance are included in one or multiple blocks and thus considered valid before employing them in a new wallet transaction. Otherwise, it could happen that a wallet transaction is deemed as invalid by the blockchain due to invalidation of a parent input during the mining of the newest block resulting in transaction funds not reaching the recipient

• Three levels are available:

• Default: 1 block

• Secure: 6 blocks

• None: 0 blocks

• If nothing is specified, the default value will be used.

[New] MaxFeeRate Limit

• To avoid excessive transaction fees during peak blockchain utilization periods a limit can be set via the tangany-bitcoin-max-fee-rate header

• If a transaction exceeds the fee rate limit it will not be transmitted

• If nothing is specified, the default value of 50 satoshi per byte will be used

General Notes

Tangany provides opinionated solutions for companies to work easily and securely with blockchain technology. That means we employ best-practices and our recommended defaults in our technology to reduce the complexity of blockchain and to make it accessible for every user. However, in some cases a different configuration is needed, to match the own use case. For those reasons, many default values can be adjusted to needs via our custom HTTP headers. Yet, in most cases, this shouldn’t be necessary.

If you have any questions or features requests feel free to reach out to our team at info@tangany.com.