RELATION BETWEEN SATOSHI AND BITCOIN

Definition of 'Satoshi'

In this world we are using some kind of national currency like INR, USD, GBP, or EUR.

Some national currencies (like USD) have a “cent”, which is 1/100 part of the currency.Just like that in digital currency satoshi is the smallest unit of bitcoin , Satoshi is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.

The satoshi is currently the smallest unit of the bitcoin currency recorded on the block chain

A unit of Satoshi is equal to 0.00000001 bitcoin.

Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi. A Satoshi is the smallest unit of Bitcoin.

The satoshi unit is named after Satoshi Nakamoto, published a paper in 2008 that jump started the development of the bitcoin cryptocurrency. The paper, “Bitcoin: A Peer-to-Peer Electronic Cash System”, described the use of a peer-to-peer network as a solution to the problem of double-spending. The problem – that a digital currency or token can used in more than one transaction – is not found in physical currencies, as a physical bill or coin can, by its nature, only exist in one place at a single time. Since a digital currency does not exist in the physical space, using it in a transaction does not remove it from someone’s possession.

VALUE OF SATOSHI

1 Satoshi = 0.00000001 ฿
10 Satoshi = 0.00000010 ฿
100 Satoshi = 0.00000100฿ = 1 Bit / μBTC (you-bit)
1,000 Satoshi = 0.00001000 ฿
10,000 Satoshi = 0.00010000 ฿
100,000 Satoshi = 0.00100000 ฿ = 1 mBTC (em-bit)
1,000,000 Satoshi = 0.01000000 ฿ = 1 cBTC (bitcent)
10,000,000 Satoshi = 0.10000000 ฿
100,000,000 Satoshi = 1.00000000 ฿

Conversion of Satoshi to USD

If you ever used BTC, then you will come to know that smallest unit i.e. Satoshi is used most for regular exchange.As all the market value are used to measure in the dollar and we have to pay in the form of Satoshi then it is must to convert Satoshi to USD or vice versa.All the calculation need mathematical brain, therefore we should use this tool for avoiding the mistake.

Comments

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