Ethereum: How to store private key in MySQL database?

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Storing Private Keys in a MySQL Database: A Guide to Building a Bitcoin Gateway

When you start building your own Bitcoin-based web application without using an enterprise gateway like CoinPayments or BitPay, one of the most important steps is to securely store your private keys. In this article, we’ll look at how to store your private keys in a MySQL database, ensuring that your sensitive information is protected.

Why Store Private Keys in a Database?

Private keys are used to encrypt and decrypt Bitcoin, as well as other cryptocurrencies. Storing these keys in a secure database can help prevent unauthorized access or theft of your sensitive financial data.

Requirements

Before continuing, make sure you have:

• A MySQL server set up on your local computer or with a cloud provider.

• Necessary dependencies installed: mysql, openssl (for encryption), and any other libraries required by your chosen programming language.

• Familiarity with database design and MySQL query languages.

Step 1: Create a new MySQL database

Create a new database to store your private keys, e.g. bitcoin_keys. You can do this with the following SQL command:

CREATE DATABASE bitcoin_keys;

Step 2: Generate a secure private key (optional)

For maximum security, generate a unique and complex private key. You can use tools like OpenSSL to create a new key pair:

openssl genrsa -out private_key.pem 2048

This will create a file called private_key.pem.

Step 3: Create a MySQL table for private keys

Create a table to store your private keys:

CREATE TABLE bitcoin_keys (
id INT PRIMARY KEY AUTO_INCREMENT,
user_id INT,
key_data TEXT(255),
created_at TIMESTAMP DEFAULT CURRENT_TIMESTAMP,
updated_at TIMESTAMP DEFAULT CURRENT_TIMESTAMP ON UPDATE CURRENT_TIMESTAMP
);
`
In this case,idis the unique identifier for each private key entry,user_idis the user who owns the key (e.g. your web application username), andkey_datastores the encrypted private key.

Step 4: Insert private key data
Insert the generated private key into the table:

sql

INSERT INTO bitcoin_keys (user_id, key_data)

VALUES (1, base64_encode('your_private_key_here'));

Replacebase64_encode()with a secure way to encode the private key (e.g. usingopenssl` or another encryption library).

Step 5: Create Stored Procedures for Secure Key Access
Create stored procedures that verify user identity and encrypt/decrypt private keys:

sql

DELIMITER //

CREATE PROCEDURE check_user_privkey(

IN user_id INT,

IN key_data TEXT

)

BEGIN

IF hash(key_data) = hash(OPENSSL_encrypt(user_id, 'AES-256-CBC', 'your_password', 32)) THEN

SELECT * FROM bitcoin_keys WHERE id = user_id;

ELSE

SIGNAL SQLSTATE '45000' SET MESSAGE_TEXT = 'Invalid or missing key data';

END IF;

END//

DELIMITER ;

sql

CREATE FUNCTION encrypt_privkey(

IN key_data TEXT,

IN password VARCHAR(255)

) RETURNS TEXT {

BEGIN

-- Encrypt the private key using the encryption algorithm of your choice.

encrypted_key := OPENSSL_encrypt(key_data, 'AES-256-CBC', password);

RETURN encrypted_key;

END;

}

Step 6: Call Stored Procedures from the Web App
Create a function or endpoint in the web app to interact with the stored procedures:

javascript

const mysql = require('mysql');

const dbConfig = {

host: 'localhost',

user: 'your_user_name',

password: 'your_password',

database: 'bitcoin_keys'

};

function check_privkey(user_id, key_data) {

const conn = mysql.createConnection(dbConfig);

conn.connect();

return new Promise((resolve, reject) => {

conn.query('call check_user_privkey(1, ?