Difference between revisions of "Denominations"
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The [[Lightning Network]] has the capability to send amounts smaller than the smallest unit on the [[Layer-1]] blockchain. The smallest unit on [[Bitcoin]] is 1 [[satoshi]] but the [[Lightning Network]] can handle [[millisatoshis]] with 1000 [[millisatoshis]] being 1 [[satoshi]]. | The [[Lightning Network]] has the capability to send amounts smaller than the smallest unit on the [[Layer-1]] blockchain. The smallest unit on [[Bitcoin]] is 1 [[satoshi]] but the [[Lightning Network]] can handle [[millisatoshis]] with 1000 [[millisatoshis]] being 1 [[satoshi]]. | ||
[[Millisatoshis]] is abbreviate | [[Millisatoshis]] is abbreviate as [[msat]]. | ||
The amount is rounded down to the nearest [[satoshi]] when the [[channel]] is closed and broadcast to the blockchain to adhere to bitcoins specification. | The amount is rounded down to the nearest [[satoshi]] when the [[channel]] is closed and broadcast to the blockchain to adhere to bitcoins specification. | ||
Revision as of 10:30, 19 February 2019
Bitcoins can be split up in satoshi and millisatoshi.
Satoshi
The satoshi is currently the smallest unit of the bitcoin currency recorded on the block chain. It is a one hundred millionth of a single bitcoin (0.00000001 BTC). The unit has been named in collective homage to the original creator of Bitcoin, Satoshi Nakamoto.
https://en.bitcoin.it/wiki/Satoshi_(unit)
Millisatoshi
The Lightning Network has the capability to send amounts smaller than the smallest unit on the Layer-1 blockchain. The smallest unit on Bitcoin is 1 satoshi but the Lightning Network can handle millisatoshis with 1000 millisatoshis being 1 satoshi.
Millisatoshis is abbreviate as msat.
The amount is rounded down to the nearest satoshi when the channel is closed and broadcast to the blockchain to adhere to bitcoins specification.
A millisatoshi is exactly 0.00000000001 BTC. Or 100 billion millisatoshis are 1 BTC.