Optimal way to design BTC deposit flow?

I am designing an exchange application where users can deposit funds into their account by sending BTC to a unique address.

What is the best way to monitor 100,000+ addresses for incoming transactions that meet a certain number of minimum confirmations?

One approach would be to listen to the rawtx event using ZMQ in order to discover new transactions, then write a program to periodically query the number of confirmations for each transaction using JSON-RPC. However, this method seems slow since it would involve repeatedly hammering the node with RPC calls. I do not wish to use external APIs like https://blockchain.info.

What would be the most efficient way to accomplish this?



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