WHAT ARE SATS?
“Sats,” that is shorthand for “satoshis” is a term used for the smallest feasible denomination of BTC: zero.00000001 BTC, or 1 one-hundred-millionth of a bitcoin. The unit is known as for the pseudonymous creator of Bitcoin, Satoshi Nakamoto.
In a 2010 Bitcointalk thread supposed to decide the reputable Bitcoin Unicode character, user Ribuck asked, “What’s the plan for subdividing bitcoins? Do we move in lots just like the metric system (millibits, microbits, nanobits)?”
“A hundredth of a bitcoin may be a Satoshi, a thousandth of that is a Molyneau, and a thousandth of that would be an Austrian,” Ribuck wrote.
Fellow Bitcointalk customers didn’t take Ribuck up at the idea, however Ribuck resurfaced the idea in a 2011 thread particularly searching for greater divisibility in BTC, which caused a thread soon after entitled “Bitcent?”, which sought to call these divided gadgets. Within that thread, cryptography and Bitcoin pioneer Hal Finney referenced Ribuck’s original inspiration:
“I like ribuck’s terminology,” Finney wrote. “He indicates bitcents, then millicents and microcents. Microcents occur to be the smallest to be had subdivision of bitcoins, so this works properly.”
A few hours later, consumer marcus_of_augustus counseled a good smaller denomination: “1 satoshi = 1 microbitcent (smallest denomination). One hundred million satoshis = 1 bitcoin. Are we agreed?”
With apparent consent on the thread, the time period became adopted through default. And in current years, it’s use has regarded to develop more generic. That may be because of increased adoption, an basic rise in charge, the beginning of new rewards and earning platforms that use small denominations of BTC or different causes.
<< Home