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Friday, February 12, 2021

What is Satoshi

 Satoshi is currently the smallest unit of the Bitcoin currency recorded on the blockchain. Equal to one hundred millionth of a Bitcoin (0.00000001 BTC). The unit is matched by the name Satoshi, in homage to Satoshi Nakamoto, the original creator of Bitcoin.

All amounts in the blockchain are in satoshi before being converted to other currencies. The source code uses satoshi when specifying the amount of bitcoin. If bitcoin is mentioned in very small amounts, it is usually used as Satoshi unit.


What is Satoshi



MOST ENCRYPTED CURRENCY ARE MEASURED BY REFERENCE TO BITCOIN VALUE. HOWEVER, THE VALUE OF MANY ALTERNATIVE CRYPTO MONEYS ARE MUCH LOWER COMPARED TO BITCOIN, WHICH IS VERY EXPENSIVE. THEREFORE, A COMMON UNIT OF MEASUREMENT IS SATOSHI, EQUAL TO ONE IN 100,000,000 OF BITCOIN.


Satoshi History

Satoshi's value in one bitcoin was determined by Satoshi Nakamoto as 0.00000001 BTC around November 2008.


On November 15, 2010, Ribuck suggested that one percent of a bitcoin (0.01 BTC) be called Satoshi. After four months, he suggested that one in a hundred million units be called austrian or a satoshi. The name Satoshi was more appreciated and widely accepted after that.


  • 1 BTC = 1,000 mBTC (millibitcoin)
  • 1 BTC = 1,000,000 μBTC (microbitcoin)
  • 1 BTC = 100,000,000 Satoshi
  • 1 mBTC = 100,000 Satoshi
  • 1 μBTC (microbitcoin) = 100 Satoshi

 


As we all know, Bitcoin is the main currency of the crypto coin market. So much so that Bitcoin accounts for more than half of the total cryptocurrency volume. On the other hand, Bitcoin is also the cryptocurrency with the highest value and as of September 10, it has a value of $ 4800. In order to exchange such high Bitcoin with other altcoins and ICOs, a smaller unit had to be created. On this reason, Satoshi, one hundred millionth of Bitcoin, started to be used for small transactions.


0.00000001, BTC SATOSHI, WHAT IS SATOSHI

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