Satoshi
By CoinGecko | Updated on Mar 08, 2021
Owning its name to the name of the Bitcoin creator, Satoshi Nakamoto. A Satoshi is the smallest divisible fungible unit in the bitcoin protocol, meaning the smallest amount of bitcoin one can send is 1 satoshi, or 0.00000001 bitcoin.
Related Terms
Testnet
Shorthand for "Test Network", testnets are staging areas for experimenting new blockchain features.
Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
KYC (Know Your Customer)
KYC stands for "Know Your Customer", a process for business entities are required to verify its clients and assessing them.
BitLicense
Refers to the business license issued by the New York State Department of Financial Services (NYSDFS) to companies dealing with Cryptocurrencies (subject to certain exceptions) in New York.
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