What is a Satoshi?

Today let’s have a look at Satoshi. What is a Satoshi and his relationship to Bitcoin and his founder!

Part 1: What is Bitcoin?

Bitcoin or BC is a decentralized digital currency that can be sent by one user to another, peer-to-peer on the Bitcoin network without the need for intermediaries such as banks or any other middlemen.

Tip: To completely understand Bitcoin read: “What is Bitcoin Blockchain?” and “How Does Bitcoin Work?”

Part 2: Founder is Satoshi Nakamoto

Bitcoin was introduced in 2008 and launched in 2009 by a still unknown person (or group of people) using the pseudonym Satoshi Nakamoto. It is widely considered as the world’s first-ever cryptocurrency.

Part 3: There are only 21 million bitcoins

Furthermore, bitcoin is considered scarce as there can only be a maximum number of 21 million bitcoins (BTC) in existence. This finite supply is what makes it interesting as a long-term investment, since supply is limited but demand is likely to grow.

Part 4: What is a Satoshi?

Are you always required to purchase at least one (1) bitcoin? The answer is, no.

A unit of bitcoin is divisible to eight decimal places (100 millionths of one bitcoin). Hence, it can be purchased in smaller units called a Satoshi – which, as you might have already guessed, was named in homage to Bitcoin’s creator(s) – Satoshi Nakamoto.

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Also Read:

• What is DeFiChain?
• What is Decentralized Finance (DeFi)?