Satoshis (Sats)

More Examples

Definition(s) from the Web

1. The satoshi is currently the smallest unit of the bitcoin currency recorded on the block chain. 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. All amounts in the block chain 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 fine fraction of a bitcoin, such as when calculating fee per byte or a faucet reward, the amount is displayed in satoshi for readability. Although the satoshi is the finest amount that can be recorded in the block chain, payment channels may need to make very granular payments and so are sometimes denominated in millisatoshi, which are one hundred billionths of a single bitcoin. Source
2. Satoshi is a structural part of the Bitcoin cryptocurrency, which is one hundred millionth of 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 Satoshis. Source
3. 1 ⁄ 100000000 of a bitcoin = 1 satoshi. Source