Satoshi: History and Meaning

Satoshi is the smallest indivisible unit of electronic currency on the BTC network. In fact, in the world of cryptocurrency, Satoshi is the same as a penny or cent in the real world. But at the moment, one Satoshi costs much less than an American cent, not to mention a penny.

When the decision was being made to limit the issuance of the digital currency, now at 21 million, the question of its popularity was raised. After all, with such a small volume, gaining popularity at that time seemed quite problematic. As a result, it was decided to introduce a small change coin, thereby splitting one BTC into a huge number of parts.

Here another question arose: what to call her? We may not know how much time was allocated to this issue for a very long time, but in the end, this coin was called “Satoshi”. In principle, naming the smallest permissible unit of cryptocurrency after the founder can be considered a fitting tribute to its creator.

Satoshi Nakamoto is known as the founder of BTC and the creator of the original BTC client. He began developing the system in 2007, but three years later stopped participating in the further development of the project. There has been no news of Nakamoto since then. It was as if he had evaporated from the information space.

There is a version that there is no such person at all, and “Satoshi Nakamoto” is a pseudonym for a person or even a group of people. It was this pseudonym that was used to sign the first scientific papers that discussed cryptographic currency.