What is "satoshi", the smallest unit in the bitcoi
From Satoshi (SAT) on the lightning network to 10,000 Satoshi added to the lightning torch at each pass, Sat is increasingly used in block chains and encrypted conversations.
Satoshi is the smallest unit recorded on the bitcoin block chain: a Satoshi represents seven decimal zeros and one decimal 1, followed by any bitcoin code, in other words, expressed in scientific notation: 0.00000001 or 1.0*10-8.
SAT is becoming more and more common in everyday block chains and encrypted currency dialogues. Bitcoin mining software like HoneyMiner pays mining incentives in SAT.
But many people, especially those unfamiliar with block chains and encrypted currencies, may see these current events involving SAT and ask themselves, "What is satoshi?".
What is Satoshi and who created it?
When we say "satoshi", we don't really mean Satoshi Nakamoto, the creator of Bitcoin. However, the Satoshi we mentioned can also be traced back to the early days of Bitcoin and BitcoinTalk forums.
It all started on November 15, 2010, when Ribuck, a BitcoinTalk user, proposed a 1/100 bit coin (0.01 BTC) - the smallest unit that could be displayed on the interface at that time - called satoshi. Although Ribuck made the proposal, none of the other users on the BitcoinTalk forum confirmed or denied it. This may be because the thread at hand is voting, where the voting occurs with the best Unicode character for Bitcoin, which is unrelated to the account unit, and may make Ribuck's comments seem inappropriate.
However, when Ribuck joined the Unicode thread, he entered a question:
"What's the plan for subdividing Bitcoin? Are we entering thousands of categories like metric systems (millibits, microbits, nanobits)? "
This is a good question, but no one wants to answer, confirm or deny it. As a result, the idea expired and no action was taken on Ribuck's proposal - at least not at the beginning.
Three months later, on February 10, 2011, Ribak made a similar comment on the unit of account. But this time, Rick's comment feels more comfortable in a theme entitled "Need more separability - move decimal points". This time, when Ribuck joined the discussion, he got feedback - eight days later, in a brand new topic title, Bitcent, where BitcoinTalk user Kolbas thought it was time to consider the smaller monetary units recorded on the bitcoin block chain.
On the Bitcent thread, a user commented that Ribuck's original proposal had been restored, and the user said:
"1 Satoshi = 1 microbitcent (minimum denomination)
100 million satoshis = 1 bitcoin
Do we agree? "
Another user responded, "Yes." After that, everyone finished: 0.00000001, the smallest unit that can be recorded on the bitcoin block chain, was called Satoshi from that moment on.