Skip to main content

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

Post a Comment

Popular posts from this blog

HOW CRYPTO MARKET WILL RECOVER?

We may not think that's a very long time, but given how fast the cryptocoin market moves. Today also bitcoin is still largest crptocurrency in the market & still leading the market .The reason for  downfall of price are abundant but natural it will take some time rise but still focusing on market & seeing their the growth rate after the downfall is tremendous as its nearly about  850% growth year by year.In early stage today also user can make a good space for profit.  Roughly an asset's price won't fall far below the market's assessment of a fair price — or at least it won't stay there too long.if company stock fall on news due to their product but if company's revenue is up , the same thing happens here in past last week , we haven't seen a lot"s of sell. Usually, when Bitcoin is rising, altcoins follow. Nevertheless, it is also the other way around; when Bitcoin drops the crypto market as a whole takes a hit.Although their had been num
Post a Comment
Read more

Overview of ripple for the starter.

What is ripple ? Ripple  is a for-profit technology platform and also a cryptocurrency (XRP), developed by Ripple Labs. The company focuses on providing real-time payment settlements and currency exchange services to financial institutions such as banks and payment processors.  Over 100 companies  worldwide have adopted Ripple software to guarantee fast, frictionless transactions. Ripple is both a digital currency and a payments protocol, and it is the latter that has got people excited. Launched in 2012, XRP is different since its inception. XRP has a maximum 100 billion tokens of its currency, out of which 61 billion tokens are with the company itself. So, only 39 percent of the XRP coins are available for the market to use, transact and exchange. Features of ripple.. 1-   Ripple (XRP) takes  just 4 seconds  to complete a transaction, 2-XRP cosistently handles 1,500 transaction per second ,24x7 ,and can scale to handle the same throughout as visa. 3-Open source technolo
Post a Comment
Read more

LITECOIN

In contrast with official site Litecoin is peer-to-peer cryptocurrency & open source software design released under MIT/X11 license .Former google employee Charlie Lee has created litecoin in Oct 2011..It went live on Oct 13 2011.The inspiration behind the designing of this project was basically BITCOIN & it's feature are some what identical with Bitcoin . From the previous record we can make the idea that the growth rate of litecoin is tremedeous. During the month of Nov 13 the aggregate value of litecoin gain massive growth .In view of this graph below we can make the outcome that Litecoin gains a great growth rate till now.                                   LITECOIN CHART (2013-2018) Basically Litecoin has various positive features in contrast as in aspect of speed Litecoin transaction over Blockchain in very less in contrast to Bitcoin it takes only 2.5 mins to complete the transaction.  Litecoin turned into an attractive investment position as its price rose fro
Post a Comment
Read more