For creating dynamic wallet addresses on the fly for each payment request, we will be setting up an HD wallet for the merchant who is accepting payment for their products from the e-commerce gateway.
HD wallets allow us to create a set of hierarchical wallet addresses derived from the same mnemonic. If the merchant can safely preserve one mnemonic phrase, they can manage all of the addresses using the same string of words.
For providing dynamically generated, hierarchically linked addresses to our payment gateway, we'll be setting up a Node.js app with a get API service. The payment gateway can use this service to fetch a new address from the merchant's HD wallet:
- Create a new Node.js project directory as shown in the following. Let's call this hdwallet.
- Run the mkdir hdwallet command.
- Run npm init to create...
