Do you know what the smallest subunits of Bitcoin are? If you do, you’ve probably figured out what they are and why they are relevant. If you do not know, they are called Sats (or satoshis). Sats is what you get if you divide one Bitcoin one hundred million times (1⁄100000000) bitcoin. In short, they are actually Bitcoin, and they “live” on the Bitcoin blockchain. However, they can move incredibly quickly on a sidechain called the Lightning Network.
According to Bitstamp, “the Lightning Network is already home to over 3000 Bitcoin, and more is flowing into the network every day. Lightning Network transactions are becoming ever more popular with exchanges, wallets, payment providers, countries, and even in games! That’s primarily because of how fast and cheaply they can be sent around the network, which unlocks a whole new world of possibilities.”
Few things to know about the Smallest Subunits of Bitcoin
1. It enables microtransactions millions of times smaller than one USD.
2. It trades at lightning speed and near-zero fees.
3. It’s been widely embraced by the public and has plenty of applications.
Disclaimer: I am not an expert in the finance aspect of Bitcoin even though I bought some Bitcoins a few years ago. The content above is just for informational purposes only. If you want to talk about the technology side of Bitcoin, then I have a vast knowledge about that which I try to update regularly.
