Thursday, March 28, 2024

Satoshi

by Hideo Nakamura
Satoshi

What is Satoshi?

Satoshi is the smallest unit of a Bitcoin (BTC) cryptocurrency. It was named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto, and each BTC can be divided into 100 million Satoshis. In other words, one Satoshi equals 0.00000001 BTC. The term “Satoshi” is used to refer to either an amount of bitcoin or the person who created it.

Why is it important?
Satoshi plays an important role in helping facilitate small transactions on the Bitcoin network by allowing users to make payments in extremely small amounts (even fractions of a cent). This makes everyday purchases more convenient for both buyers and sellers as they no longer need to worry about decimal points when dealing with very low-value transactions. Additionally, having such a small unit helps prevent fraudsters from manipulating prices by creating orders with large quantities that could be difficult or impossible to fill without impacting market prices significantly.

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