I am wondering how to effectively monitor for some given address for FA 1.2 and FA 2 token balance updates. Given that the entrypoints to the contract are defined, I'd like to write something which reads in each "block" response from the Tezos node, iterates over all executed transactions, and analyzes the entrypoints to track when one of my addresses had a transaction occur.
This would of course only be feasible if all potential token transfers appear as "Transaction" operations in the block response, with the appropriate endpoints.
An example of a token I may want to track is tzBTC, which does call
transfer internally - and it does show up in the RPC response.
The other method of doing this would be to look inside the storage of each contract, but that doesn't seem particularly scalable.