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Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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By subscribing, you agree with our privacy and terms.

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\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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By subscribing, you agree with our privacy and terms.

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\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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By subscribing, you agree with our privacy and terms.

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\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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By subscribing, you agree with our privacy and terms.

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\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The cryptography used to secure the Bitcoin network is SHA-256<\/a>. Designed to be impenetrable for modern computers, but not against quantum computers.<\/p>\n\n\n\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Quantum computers use quantum mechanics to compute much faster than traditional computers. Large quantum computers would cause trouble for Bitcoin, though it would not be the end of it.<\/p>\n\n\n\n

The cryptography used to secure the Bitcoin network is SHA-256<\/a>. Designed to be impenetrable for modern computers, but not against quantum computers.<\/p>\n\n\n\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3390,"post_author":"1","post_date":"2022-02-06 03:07:40","post_date_gmt":"2022-02-05 16:07:40","post_content":"\n

Quantum computers use quantum mechanics to compute much faster than traditional computers. Large quantum computers would cause trouble for Bitcoin, though it would not be the end of it.<\/p>\n\n\n\n

The cryptography used to secure the Bitcoin network is SHA-256<\/a>. Designed to be impenetrable for modern computers, but not against quantum computers.<\/p>\n\n\n\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3390,"post_author":"1","post_date":"2022-02-06 03:07:40","post_date_gmt":"2022-02-05 16:07:40","post_content":"\n

Quantum computers use quantum mechanics to compute much faster than traditional computers. Large quantum computers would cause trouble for Bitcoin, though it would not be the end of it.<\/p>\n\n\n\n

The cryptography used to secure the Bitcoin network is SHA-256<\/a>. Designed to be impenetrable for modern computers, but not against quantum computers.<\/p>\n\n\n\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3390,"post_author":"1","post_date":"2022-02-06 03:07:40","post_date_gmt":"2022-02-05 16:07:40","post_content":"\n

Quantum computers use quantum mechanics to compute much faster than traditional computers. Large quantum computers would cause trouble for Bitcoin, though it would not be the end of it.<\/p>\n\n\n\n

The cryptography used to secure the Bitcoin network is SHA-256<\/a>. Designed to be impenetrable for modern computers, but not against quantum computers.<\/p>\n\n\n\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3390,"post_author":"1","post_date":"2022-02-06 03:07:40","post_date_gmt":"2022-02-05 16:07:40","post_content":"\n

Quantum computers use quantum mechanics to compute much faster than traditional computers. Large quantum computers would cause trouble for Bitcoin, though it would not be the end of it.<\/p>\n\n\n\n

The cryptography used to secure the Bitcoin network is SHA-256<\/a>. Designed to be impenetrable for modern computers, but not against quantum computers.<\/p>\n\n\n\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

Twitter Instagram Youtube LinkedIn Facebook RSS
ADVERTISEMENT
\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3390,"post_author":"1","post_date":"2022-02-06 03:07:40","post_date_gmt":"2022-02-05 16:07:40","post_content":"\n

Quantum computers use quantum mechanics to compute much faster than traditional computers. Large quantum computers would cause trouble for Bitcoin, though it would not be the end of it.<\/p>\n\n\n\n

The cryptography used to secure the Bitcoin network is SHA-256<\/a>. Designed to be impenetrable for modern computers, but not against quantum computers.<\/p>\n\n\n\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3390,"post_author":"1","post_date":"2022-02-06 03:07:40","post_date_gmt":"2022-02-05 16:07:40","post_content":"\n

Quantum computers use quantum mechanics to compute much faster than traditional computers. Large quantum computers would cause trouble for Bitcoin, though it would not be the end of it.<\/p>\n\n\n\n

The cryptography used to secure the Bitcoin network is SHA-256<\/a>. Designed to be impenetrable for modern computers, but not against quantum computers.<\/p>\n\n\n\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

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ADVERTISEMENT
\n

What Is SHA-256?<\/h2>\n\n\n\n

Securing Hashing Algorithm 256 (SHA-256) is the hashing algorithm used to secure blockchains such as Bitcoin, where the hashing function<\/a> emits a 256-bit wide output. <\/p>\n\n\n\n

The hashing algorithm is responsible for wallet address creation and management along with the verification of transactions on the blockchain ledger<\/a> through mining<\/a>. ((Bitcoin Wiki - SHA-256<\/a>))<\/p>\n\n\n\n

How Secure Is SHA-256?<\/h2>\n\n\n\n

SHA-256 is a variant of the SHA-2, which was initially developed by the National Security Agency.((Federal Register - Announcing Approval of Federal Information Processing Standard (FIPS) 180-2, Secure Hash Standard; a Revision of FIPS 180-1<\/a>)) This means that the inner workings of the algorithm aren't known to the public as it protects sensitive information belonging to the United States. <\/p>\n\n\n\n

It is practically impossible to reveal the initial data from a hash value as they are only one-way functions. <\/p>\n\n\n\n

Bitcoin utilizes a double SHA-256, meaning once they get the initial hash from the data, it is hashed once again - this creates an insurmountable amount of possible hashes basically eliminating the chance of a brute-force attack<\/a> as it would take 2^256 attempts to generate the initial data,((N-able - SHA-256 Algorithm Overview<\/a>)) more than the number of atoms in the universe.<\/p>\n","post_title":"SHA-256","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"sha-256","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/what-is-a-51-attack-on-a-blockchain\/\nhttps:\/\/www.thedistributed.co\/what-is-distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/a-guide-to-cryptocurrency-mining\/","post_modified":"2022-07-31 23:20:17","post_modified_gmt":"2022-07-31 13:20:17","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3401","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3390,"post_author":"1","post_date":"2022-02-06 03:07:40","post_date_gmt":"2022-02-05 16:07:40","post_content":"\n

Quantum computers use quantum mechanics to compute much faster than traditional computers. Large quantum computers would cause trouble for Bitcoin, though it would not be the end of it.<\/p>\n\n\n\n

The cryptography used to secure the Bitcoin network is SHA-256<\/a>. Designed to be impenetrable for modern computers, but not against quantum computers.<\/p>\n\n\n\n

How Would Quantum Computing Effect Bitcoin?<\/h2>\n\n\n\n

Bitcoin is built upon a blockchain, which serves to record everything<\/a> that happens on it - in a public and transparent ledger<\/a>.<\/p>\n\n\n\n

The danger quantum computing has against Bitcoin is within the public key encryption system. <\/p>\n\n\n\n

Modern computers would have to complete a computation of 2^128 to decrypt the private key associated with the private key - in turn allowing access to the said wallet. A large quantum computer would be able to decipher the private key from the public key with 128^3, a large amount of time but much less than modern computers. ((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

The larger the quantum computer the simpler these encryption methods become to solve.<\/p>\n\n\n\n

The ledger that holds every transaction of bitcoin would also be at risk. If the ledger were to be attacked<\/a>, then it could be altered to accommodate fraudulent transactions or as stated above steal coins from wallets.<\/p>\n\n\n\n

Scientists from Sussex University published a paper<\/a>, finding that quantum computing is expected to break the SHA-256 encryption method currently utilized by Bitcoin, within the next decade.((https:\/\/avs.scitation.org\/doi\/10.1116\/5.0073075))<\/p>\n\n\n\n

Overcoming The Threat Of Quantum Computing To Bitcoin.<\/h2>\n\n\n\n

A new public-key algorithm can be added to Bitcoin as a soft fork<\/a>. From the end-user perspective, this would appear as the creation of a new address type, and everyone would need to send their bitcoins to this new address type to achieve quantum security.((https:\/\/en.bitcoin.it\/wiki\/Quantum_computing_and_Bitcoin)) <\/p>\n\n\n\n

Encryption methods would develop in unison with computational power. So despite quantum computing breaking down current encryption methods, it would open the door for quantum encryption. The larger the quantum computer, the more powerful the quantum encryption will be.<\/p>\n\n\n\n

Accommodating cryptography to secure a network against quantum computing is a problem that is yet to affect anyone, but if it is left for too long it will affect everyone. <\/p>\n\n\n\n

In turn, the developments in quantum computing could speed up progress towards securing Bitcoin for the long term, with this Bitcoin will survive quantum computing.<\/p>\n\n\n\n

<\/p>\n","post_title":"Could Quantum Computing Decipher Bitcoin Within The Next Decade?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"could-quantum-computing-decipher-bitcoin-within-the-next-decade","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/what-is-the-sha-256-algorithm\/","post_modified":"2022-05-28 00:46:01","post_modified_gmt":"2022-05-27 14:46:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3390","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":3162,"post_author":"1","post_date":"2022-01-11 20:58:00","post_date_gmt":"2022-01-11 09:58:00","post_content":"\n

January 10th recorded the lowest price of Bitcoin, $BTC, since September 21st, 2021 after it briefly dove below $40,000 USD to $39,677.65<\/a>.<\/p>\n\n\n\n

It quickly rebounded up to $42,000 later in the day. Various analysts of cryptocurrencies stepped in to offer their perspectives on the dip.<\/p>\n\n\n\n

John Iadeluca founder & CEO of multi-strategy fund\u00a0Banz Capital stated that \u201cthe continuation of intense sell-offs, unexpected margin calls, and forced liquidations across the broad cryptocurrency market are driving Bitcoin prices below $40,000\u201d<\/p>\n\n\n\n

\u201cJanuary is also historically a month where Bitcoin has crashed substantially directly prior to the beginning of a subsequent bear market, which may be adding some downward psychological pressure on Bitcoin traders\u201d he elaborated.<\/p>\n\n\n\n

Internet and technology attorney, Andrew Rossow stated \u201cIt is my personal opinion that since the government has recently focused its attention on inflation, that it has created concern for consumers - it's very easy to get stuck on previous market behavior.\u201d <\/p>\n\n\n\n

Describing the sell-offs as being part of consumers and investors expressing their that fear.<\/p>\n\n\n\n

\u201cThe biggest takeaway we continue to see with these kinds of drops and subsequent consumer behavior based upon those drops is speculation and a fear that bitcoin will never recover.\u201d<\/p>\n","post_title":"Bitcoin Dives Below $40,000 - Its Lowest Price Since September","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-dives-below-40000-its-lowest-price-since-september","to_ping":"","pinged":"","post_modified":"2023-04-30 21:40:42","post_modified_gmt":"2023-04-30 11:40:42","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=3162","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2274,"post_author":"1","post_date":"2021-11-14 22:34:25","post_date_gmt":"2021-11-14 11:34:25","post_content":"\n

After 7 years in the making, Bitcoin has finally implemented a major update to its system as Taproot went live at block 709,632, 5:15 UTC on Sunday \u2013 November 14, 2021.<\/p>\n\n\n\n


The Taproot protocol aims to obscure complicated transactions to increase privacy on-chain while making transactions cheaper and more lightweight.<\/p>\n\n\n\n


To do this, Taproot replaces Bitcoin's current signature protocol with Schnoor Signatures<\/a> as it will make transactions smaller, while improving the scalability of the system using multi-signature scripts.<\/p>\n\n\n\n


Taproot further increases the scalability limit of the script, by not necessitating the user to reveal the entire script when in use.<\/p>\n\n\n\n


Meanwhile, privacy remains of utmost importance, as the update enables the ability to create all kinds of conditional situations where coins can be spent by other parties. It will also use the new witness version one to distinguish from older transactions.<\/p>\n\n\n\n


Although this is great news for Bitcoin, it isn't automatically implemented. The ball is now in the court of developers to make use of and build on top of the Taproot system.<\/p>\n","post_title":"The Biggest Upgrade To Bitcoin Since 2017: The Taproot Protocol","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"the-biggest-upgrade-to-bitcoin-since-2017-the-taproot-protocol","to_ping":"","pinged":"","post_modified":"2023-04-30 21:41:01","post_modified_gmt":"2023-04-30 11:41:01","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2274","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":2232,"post_author":"1","post_date":"2021-11-03 22:56:14","post_date_gmt":"2021-11-03 11:56:14","post_content":"\n

The Commonwealth Bank<\/a> will allow users of its app to buy and sell cryptocurrencies, a first for any major Australian bank.<\/p>\n\n\n\n

The past Wednesday, Commonwealth Bank announced its partnership with crypto exchange, Gemini, and Blockchain analysis firm, Chainalysis, to offer the service to over 6.5m Australians.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/CommBank\/status\/1455688027800432644\n<\/div><\/figure>\n\n\n\n

The partnership will offer CommBank users access to 10 cryptocurrency assets including, Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.<\/p>\n\n\n\n

The set date for launch isn't until 2022, but Commonwealth Bank plans to conduct a pilot for the platform within the coming weeks.<\/p>\n\n\n\n

Is this a wise move for one of Australias biggest banks and will other worldwide banks follow in their footsteps?<\/p>\n","post_title":"Australia's Commonwealth Bank App To Offer Crypto Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"australias-commonwealth-bank-app-to-offer-crypto-trading","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:58","post_modified_gmt":"2022-01-08 07:50:58","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=2232","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1601,"post_author":"1","post_date":"2021-11-02 14:09:06","post_date_gmt":"2021-11-02 03:09:06","post_content":"\n

Over 100 miners operating illegally in a Venezuelan farm based in a residential zone have been seized by authorities. Reports<\/a> from Venezuelan outlets state the farm was located due to its overload on the National Electric System in the Palo Verde sector of Miranda State.<\/p>\n\n\n\n

Sunacrip, the National Superintendency Of Crypto Assets and Related Activities were informed of the above information and looked further into the situation. They found 100s of Bitcoin mining equipment operating without the required permits.<\/p>\n\n\n\n

\"\"
Dipcpnb offical<\/a><\/figcaption><\/figure><\/div>\n\n\n\n

Although mining bitcoin is completely legal in Venezuela, it requires permits from Sunacrip to protect the National Electric System from overload due to the intensive energy consumption these rigs require.<\/p>\n\n\n\n

Working under the laws and regulations, workers with the required permits are allowed to import and commercialize digital mining equipment. Additionally, they can provide cloud mining services and offer hosting services for digital mining.<\/p>\n\n\n\n

But this process isn't guaranteed, so some people decide to work behind the law and create these illegal mining rigs to bypass the regulations. Sunacrip isn't against cryptocurrencies at all but, when you bypass the law and put the burden on the citizen's power there is obviously backlash.<\/p>\n","post_title":"100s Of Bitcoin Miners Seized By Venezuelan Authorities","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"bitcoin-miners-seized-by-venezuelan-authorities","to_ping":"","pinged":"","post_modified":"2022-01-08 18:50:50","post_modified_gmt":"2022-01-08 07:50:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1601","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":1518,"post_author":"1","post_date":"2021-10-28 21:57:46","post_date_gmt":"2021-10-28 10:57:46","post_content":"\n

A Satoshi Unit, or SATS, is currently the smallest denomination of Bitcoin (BTC), named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. As dollars split into cents, Bitcoins split into Satoshis with one Satoshi equaling 0.00000001 BTC.<\/p>\n\n\n\n


Currently, one Satoshi equals<\/a> 0.00059 USD.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Why Is A Satoshi Unit Used?<\/strong><\/h2>\n\n\n\n

As the price of Bitcoin rises, the size of each transfer gets smaller. 1 BTC now may only be equal to 0.8 BTC in a few months. Smaller denominations of Bitcoin make it easier to conduct transactions and make smaller transactions easily understood. Instead of having 0.0000873 BTC, you\u2019d instead have 873 Satoshis, this is much simpler to tell someone.<\/p>\n\n\n\n

Having the denomination of Bitcoin so small allows for better adoption in everyday use. Having it to two, or three decimal places could still place it in the thousands of dollars range.<\/p>\n\n\n\n

As Gwei<\/a> with Ether, the Satoshi Unit is a practical implementation for Bitcoin when putting a price on small transactions and equally small transaction fees. But they may play an even more important part when it comes to the wide-scale adoption of cryptocurrency.<\/p>\n\n\n\n

<\/p>\n\n\n\n

Bitcoin Units Of Measurement<\/strong><\/h2>\n\n\n\n
1 Satoshi<\/td>0.00000001 \u20bf<\/td><\/tr>
10 Satoshi<\/td>0.00000010 \u20bf<\/td><\/tr>
100 Satoshi<\/td>0.00000100 \u20bf = 1 Bit \/ \u03bcBit (you-bit)<\/td><\/tr>
1,000 Satoshi<\/td>0.00001000 \u20bf<\/td><\/tr>
10,000 Satoshi<\/td>0.00010000 \u20bf<\/td><\/tr>
100,000 Satoshi<\/td>0.00100000 \u20bf = 1 mBTC (em-bit)<\/td><\/tr>
1,000,000 Satoshi<\/td>0.01000000 \u20bf = 1 cBTC (bitcent)<\/td><\/tr>
10,000,000 Satoshi<\/td>0.10000000 \u20bf<\/td><\/tr>
100,000,000 Satoshi<\/td>1.00000000 \u20bf<\/td><\/tr><\/tbody><\/table>
Graph Taken From Bitcoin Wiki<\/a><\/figcaption><\/figure>\n","post_title":"Satoshi Unit (SATS) Definition","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"satoshi-unit","to_ping":"","pinged":"\nhttps:\/\/www.thedistributed.co\/gwei\/","post_modified":"2022-06-02 22:19:19","post_modified_gmt":"2022-06-02 12:19:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=1518","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
1 … 18 19 20

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By subscribing, you agree with our privacy and terms.

Follow The Distributed

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Bitcoin

1 … 18 19 20

Most Read

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