Cryptocurrency Q&A
How does satoshi coin work?
How does satoshi coin work?
isabella_cole_psychologist
Thu Nov 14 2024
|
8 answers
1680
Satoshi, named after Bitcoin's creator Satoshi Nakamoto, is the smallest unit of Bitcoin. It represents one hundred millionths of a single Bitcoin and is often abbreviated to 'sats'. Satoshis enable the measurement and transaction of fractional amounts of Bitcoin, crucial for microtransactions and calculating transaction fees. As Bitcoin's value has surged, satoshis have become essential for smaller transactions, offering an entry point for smaller investors and a means to track minute changes in Bitcoin's value.
8 answers
EthereumEagle
Sat Nov 16 2024
It functions analogously to cents in relation to dollars.
Was this helpful?
44
58
Martino
Sat Nov 16 2024
In the context of Bitcoin, there exists a total of 100 million Satoshi.
Was this helpful?
134
52
Nicola
Sat Nov 16 2024
Each individual Satoshi possesses a unique identifier.
Was this helpful?
231
24
benjamin_doe_philosopher
Sat Nov 16 2024
Satoshi serves as the smaller unit of Bitcoin.
Was this helpful?
386
32
amelia_harrison_architect
Sat Nov 16 2024
This identifier is akin to a serial number.
Was this helpful?
55
86
Load 5 more related questions
