News

Is a Taproot Address Necessary To Receive Inscriptions?

Joseph Billions

Feb 25, 2023 — 1 min read

Is a Taproot address necessary to receive Inscriptions?

Earlier this year, the mastermind behind Inscriptions, Casey Rodarmor, launched the groundbreaking innovation. With this protocol, users can now receive and transfer singular satoshis, each of which could house exceptional multi-dimensional data. This data can include videos, images, and even audio. This revolutionary technology enables the mining of NFTs on the bitcoin blockchain by storing the complete content of each NFT on-chain.

However, considering the whole concept of Inscriptions is a new idea, many, especially minters, are expected to have many questions. This write-up aims to answer some of those vital questions.

Dealing with Inscriptions

To venture into the world of inscriptions, you'll need two vital tools: A Bitcoin full node and a wallet. Fortunately, Bitcoin Core offers a complete package featuring a wallet and a full node. However, the Bitcoin Core wallet is unable to create inscriptions or execute sat control. This is where ord, the ordinal utility, comes in.

While ord doesn't have its wallet, it seamlessly integrates with Bitcoin Core wallets through its wallet subcommands, enabling you to create inscriptions and manage your sats easily.

Receiving inscriptions without a Bitcoin full node

Since every Inscription is linked to a single satoshi, it can be stored at any address. However, you should know that only the ord client presently offers comprehensive ordinal management. Therefore, generating UTXOs from the same address as your Inscription can put your precious asset at risk of being lost.

How Important is a Taproot Address?

You don't necessarily need a Taproot address to receive Inscriptions, as any Bitcoin address will do. However, you may lose your valuable Inscription if you send out any transactions without utilizing ord.

Also, understand that the cost of an Inscription is determined by the current market and the size of the file you're inscribing. Although recently, the average price of an Inscription is around 50,000 sats.

Check our guide of the most promising crypto

Massive Hype Around The Hottest Launchpad for Memecoins with 100x-1000x Returns

In the current bull run, the Solana ecosystem has emerged as the epicentre of memecoins, overshadowing the dominance previously held by BNB and ETH in the last bull run. Despite this shift, Solana's infrastructure for memecoins still lacks the robustness seen on other channels in previous seasons. Enter

‘Not a Hedge Fund’ App OpenHarbor Unlocks Premier Crypto Investing Strategies for Everyday Investors

Non-custodial app allows users with Binance accounts to choose among investment strategies with annual percentage yields as high as 182% SOUTH KOREA, April 19, 2024 - OpenHarbor, a startup building the hedge fund of the future, announced today the launch of its app that gives everyday investors, who want exposure

RACE Protocol Introduces RACE Heroes NFT Pre-sale, Offering Exclusive Benefits for Early Adopters

RACE Protocol, a multi-chain infrastructure designed to facilitate the development and deployment of secure and fair web3 games, is thrilled to announce the launch of its RACE Heroes NFT Pre-sale. This exclusive collection of 10,000 unique NFTs provides early adopters with the opportunity to become a key part of

ceτi AI Acquires Big Energy Investments Inc. to Boost Its High-Performance Computing Capabilities in North America

Vancouver, Canada, April 18th, 2024, Chainwire ceτi AI, a leader in decentralized artificial intelligence infrastructure, is pleased to announce its acquisition of Canadian company Big Energy Investments Inc., a firm specializing in strategic investment in high-performance computing infrastructure. This acquisition marks a significant first step in ceτi AI’s strategy