What is Satoshi:
Satoshi is the smallest unit of Bitcoin recorded on the blockchain. 1 Satoshi is equal to 1 part of 100 million of Bitcoin, i.e. 1 Satoshi = 0.00000001 BTC. This unit is named after the creator of Bitcoin, Satoshi Nakamoto.
All funds on the blockchain are named satoshi before conversion for display. The source code also uses satoshi when determining an amount of Bitcoin. When displaying a very small portion of Bitcoin, such as when charging per byte or faucet, the amount is displayed in satoshi for easy reading.
While a satoshi is the smallest amount recordable on the blockchain, payment channels can be so detailed that it is sometimes even calculated in millisatoshi, which is one hundred billionth of a bitcoin.
Satoshi’s Birth History
The value of one Bitcoin decided by Satoshi Nakamoto in November 2008 is 100 million satoshis.
On 11/15/2010, the first proposed rate was 1 satoshi = 0.01 BTC. 4 months later, he again suggested that 1 satoshi = 0.00000001 BTC. The name satoshi was then widely accepted and used.
Satoshi is often abbreviated sat or s, and there is currently no widely accepted satoshi currency symbol.
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