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Satoshi (unit)
Satoshi (unit) is a structural part of the Bitcoin cryptocurrency, which is one hundred million bitcoin. Such small units facilitate transactions with BTC. The total structural component of 1 bitcoin (BTC) is equivalent to 1000 millibits (mBTC), 1,000,000 microbe (mkBTC) or 100,000,000 Satoshi. The exact data is unknown, but it is assumed that Nakamoto can have 1 million BTC, and it is equivalent to 100 000 000 000 Satoshi (unit).
Although the satoshi is the finest amount that can be recorded in the blockchain[1].
On Mart 2018, 1 US cent is worth approximately 9419 satoshi.
Contents
How may Satoshi in a Bitcoin?
What is Satoshi? Satoshi meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, in the world of Satoshi cryptocurrency is the same as in the real world a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit has been named in collective homage to the original creator of Bitcoin, Satoshi Nakamoto.
When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.
In the end, this coin was called "Satoshi". There are many calculators for converting various currencies into other cryptocurrencies or Fiat money - stock calculator
All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.
Satoshi value
As there are one hundred millions Satoshi in one Bitcoin, it is sometimes difficult to convert or count the price of Satoshi. In the internet there are many services converters Satoshi to BTC. Take a look! Template:Bitcoin
History
The value of a bitcoin in satoshi was decided by Satoshi Nakamoto to be 100 million no later than November 2008[2].
On November 15, 2010, Ribuck proposed that the one hundredth of a bitcoin (0.01 BTC) be called a Satoshi. Four months later he instead suggested that the one hundred millionth unit be called an austrian or a satoshi. The name satoshi caught on, and was widely adopted thereafter.
Traditionally, the plural form has been simply satoshi, but the term satoshis is also popular. If the plural form were to follow the rules of Japanese grammar, it may be pronounced as satoshi, or satoshisa.
Satoshi is sometimes abbreviated to sat or s, although no symbol has been widely adopted.
Usage
Plural
Traditionally, the plural form has been simply satoshi, but the term satoshis is also popular and equally correct. If the plural form were to follow the rules of Japanese grammar, it may be pronounced as satoshisa, or simply satoshi.
Symbol
Satoshi is often abbreviated to sat or s, although no currency symbol has been widely adopted. There are various proposed symbols:
| Symbol | Explanation |
|---|---|
| 里 | In Japanese names, this character can (rarely) be read "satoshi". It is an uncommon Chinese/Japanese character on its own, and an infrequent radical (kangxi #166). It can be seen as a radical in the common kanji 理 and 量, used in meaningful words like: 理想 (ideals), 理論 (theory), 理性 (reason), 理科 (science), and 量 (quantity). "Satoshi" is a rare reading; more commonly it is read as "ri" or "sato". |
| シ | A Japanese katakana representing the syllable "shi". Note that this character is extremely common in Japanese, so it could cause confusion. Also, it can mean "death" in Japanese and Chinese. |
| ㋛ | As above, but circled to distinguish it from the katakana. |
| し | As above, but this is the hiragana instead of the katakana. This is even more common than シ in Japanese writing, however. |
| サ | A Japanese katakana representing the syllable "sa". Maybe it looks more reminiscent of a currency symbol than others. Note that this character is extremely common in Japanese, so it could cause confusion. |
External links
- Terminology - What is Satoshi? - Bitcoin Stack Exchange
- GitHub - Satoshi Unit
- What Is A Satoshi? - Mycryptopedia
See also
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