Qtum Documentation
  • Qtum Features and Advances
    • Qtum Ordinals
      • Chapter 1: Introduction to ordinals
      • Chapter 2: Understanding Inscriptions in Depth
      • Chapter 3: The Intricacies of Ordinals on the Blockchain
      • Chapter 4: Engineering Ordinals within Qtum's Architecture
      • Chapter 5: Prerequisites for Engaging with Ordinals on Qtum
      • Chapter 6: The Procedure for Inscribing a Satoshi with Ordinals
      • Inscribing Messages on Qtum Testnet
    • Qtum-BIP38
  • Qtum Wallet
    • Qtum-Core Wallet Documentation
      • Qtum Documentation
      • Using Qtum Wallet
      • Linux Repositories
      • Qtum on Raspberry Pi
      • How to Update Qtum
      • Qtum Wallet Best Practices
      • Qtum Wallet Commands
      • Adding Nodes To Qtum Wallet
      • Encrypt & Unlock Qtum Wallet
      • Recovery wallet data with salvagewallet
      • Testnet User Guide
      • Bech32 Addresses support
      • How to Add Options (Config)
      • How to use Bootstrap
  • Staking and Nodes
    • Secure Staking With Qtum Star Network
    • Staking Documentation
      • Qtum Staking
      • Offline Staking
      • Offline Staking Address Delegation - Undelegation Transaction Details
      • Qtum on AWS ec2
      • Staking with a VPS
      • Staking with a Raspberry Pi
  • Other Wallets
    • Wallets Supporting Qtum
      • Electrum
      • Qtum Web Wallet
      • Qtum Lightning Network
  • RPC CALLS AND API
    • QTUM RPC CALLS
    • QTUM RPC API
  • Qtum Deployment
    • Guidance on Qtum Deployment
    • Building Qtum on Linux
    • Guidance for Exchange Deployment
  • Smart Contracts and QRC20 Tokens
    • QRC20 Token integration
    • QRC20 Integration Technical Guide
    • Raw QRC20 Transaction implementation guide
  • WEB3
    • Web3 Compatibility Layer
    • Janus Docker Container
    • Truffle
    • Differences between EVM chains
  • QNEKT
    • QNEKT
    • Why Fork Metamask ?
    • Sideloading Qnekt
    • Setting up QNEKT
    • Working with Testnet Coins on QNEKT
    • Connecting QNEKT to regtest
    • QNEKT Regtest with react-box
  • Research
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  1. Qtum Features and Advances
  2. Qtum Ordinals

Chapter 5: Prerequisites for Engaging with Ordinals on Qtum

Infrastructure and Access

The inception of ordinals on the Qtum blockchain necessitates a foundational understanding of the underlying infrastructure required to create and manage these digital artifacts.

At the core of this infrastructure is the Qtum node, which serves as the access point to the blockchain.

Users must either run a full node, which maintains a complete history of the blockchain, or a pruned node, which stores only the most recent transactions while still validating the entirety of the network's history. This node provides the necessary information to track the lineage of satoshis, which is critical to the ordinal system.

Specialized Wallet Software

Inscriptions, the process of embedding metadata onto individual satoshis, require a specialized wallet capable of composing transactions that adhere to the ordinal protocol. The ord wallet is an example of such a wallet, designed to interface seamlessly with Qtum Core nodes. It facilitates the construction of commit-and-reveal transactions, enabling users to inscribe satoshis with unique identifiers and associated content.

Economic Considerations

The economic aspect of engaging with ordinals is non-trivial. Users must possess an adequate amount of QTUM to cover transaction fees, which can vary depending on network congestion and the size of the inscription. Since the inscription process involves at least two transactions (commit and reveal), the cost may be higher than a standard Qtum transaction. Therefore, financial planning is essential to ensure that users can afford to participate in the ordinals ecosystem.

Technical Acumen

While not a tangible requirement, a certain degree of technical acumen is beneficial for those looking to delve into ordinals. Understanding the nuances of Qtum transactions, script execution, and the specifics of the commit-and-reveal process requires a sophisticated grasp of blockchain technology and its protocols.

Security Considerations

Lastly, users must be cognizant of security practices when handling Qtum transactions, especially those associated with ordinals. As with any cryptocurrency transaction, the private keys that authorize the spending of bitcoin must be safeguarded diligently. The security of inscribed satoshis hinges on the robustness of key management and the integrity of the wallet software used.

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Last updated 1 year ago