When using poloniex, they issue a monero address to each user without the payment id's. How are they scanning so many user's monero private keys at once? I can't imagine them loading 1000s of wallet files one after another to scan the monero blockchain for an updated balance for each user. This is something I wanted to figure out but I never did in my own application that has many xmr private keys.
How is Poloniex keeping track of their user's Monero balances when they do not use any Payment ID's?
asked Jun 26, 2019 at 12:36
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1 Answer
Last I was aware, Poloniex issues users with a Monero integrated address, which embeds a payment ID in the address. You can easily verify this by the address length - integrated addresses are 106 hex digits long.
As the Monero community has already signalled that payment IDs are being deprecated, subaddresses should be used instead moving forwards.
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you are correct... didn't realize this. im surprised other exchanges didn't adopt this approach. seems like a no brainer to reduce support issues for those leaving payment id's out. Jun 26, 2019 at 14:27