The smallest indivisible unit of Bitcoin, equal to 0.00000001 BTC (one hundred-millionth of a bitcoin), named after Bitcoin's pseudonymous creator Satoshi Nakamoto. All Bitcoin amounts are internally represented as integer counts of satoshis, avoiding floating-point precision issues. The Ordinals protocol assigns unique serial numbers to individual satoshis, enabling them to carry inscribed data.
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The smallest indivisible unit of Bitcoin, equal to 0.00000001 BTC (one hundred-millionth of a bitcoin), named after Bitcoin's pseudonymous creator Satoshi Nakamoto. All Bitcoin amounts are internally represented as integer counts of satoshis, avoiding floating-point precision issues. The Ordinals protocol assigns unique serial numbers to individual satoshis, enabling them to carry inscribed data.
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Satoshi (satoshi-unit) Category: Blockchain General Definition: The smallest indivisible unit of Bitcoin, equal to 0.00000001 BTC (one hundred-millionth of a bitcoin), named after Bitcoin's pseudonymous creator Satoshi Nakamoto. All Bitcoin amounts are internally represented as integer counts of satoshis, avoiding floating-point precision issues. The Ordinals protocol assigns unique serial numbers to individual satoshis, enabling them to carry inscribed data. Aliases: sat, sats Related: Bitcoin, Bitcoin Ordinals
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The first decentralized cryptocurrency network, launched in 2009 by the pseudonymous Satoshi Nakamoto, using a Proof-of-Work consensus mechanism and a UTXO-based transaction model. Bitcoin's protocol enforces a fixed supply cap of 21 million BTC, with new coins issued through mining block rewards that halve approximately every four years. It serves as both a peer-to-peer electronic cash system and a store of value, with its scripting language enabling basic programmability such as multisig and timelocks.
A protocol created by Casey Rodarmor in January 2023 that assigns a unique serial number (ordinal) to each individual satoshi based on mining order, enabling satoshis to carry arbitrary data (inscriptions) stored in Taproot witness data. Inscriptions can contain images, text, HTML, or other media up to the ~4 MB block weight limit, creating non-fungible digital artifacts natively on Bitcoin. Over 63 million inscriptions were created by early 2024.
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A blockchain's ability to handle increasing transaction volume without degrading performance or decentralization. The scalability trilemma posits that blockchains can optimize at most two of: decentralization, security, and scalability. Solutions include Layer 2 rollups, sharding, parallel execution (Solana's Sealevel), and modular architectures.
The entity responsible for ordering, batching, and submitting transactions in a Layer 2 rollup. Most rollups currently use a single centralized sequencer operated by the rollup team. Decentralized and shared sequencer designs (Espresso, Astria) distribute this power across a network of operators, enabling cross-rollup atomic composability and reducing single points of failure.
Scaling technique that partitions blockchain state and processing across multiple parallel chains (shards), each handling a subset of transactions. Used by Ethereum's roadmap (danksharding) and Near Protocol. Solana takes a different approach, using parallel execution on a single shard (via Sealevel) rather than splitting into multiple chains.
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The first decentralized cryptocurrency network, launched in 2009 by the pseudonymous Satoshi Nakamoto, using a Proof-of-Work consensus mechanism and a UTXO-based transaction model. Bitcoin's protocol enforces a fixed supply cap of 21 million BTC, with new coins issued through mining block rewards that halve approximately every four years. It serves as both a peer-to-peer electronic cash system and a store of value, with its scripting language enabling basic programmability such as multisig and timelocks.
A protocol created by Casey Rodarmor in January 2023 that assigns a unique serial number (ordinal) to each individual satoshi based on mining order, enabling satoshis to carry arbitrary data (inscriptions) stored in Taproot witness data. Inscriptions can contain images, text, HTML, or other media up to the ~4 MB block weight limit, creating non-fungible digital artifacts natively on Bitcoin. Over 63 million inscriptions were created by early 2024.
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A distributed, append-only ledger that records transactions in cryptographically linked blocks. Each block contains a hash of the previous block, forming an immutable chain. Nodes in the network maintain copies of the ledger and reach agreement through consensus mechanisms. Blockchains enable trustless, decentralized record-keeping without a central authority.
The protocol by which nodes in a distributed network agree on the current state of the ledger. Common mechanisms include Proof of Work (Bitcoin), Proof of Stake (Ethereum, Solana), and BFT variants. Consensus ensures all honest nodes converge on the same transaction history despite potential network delays or malicious actors.
A consensus mechanism where validators are selected to produce blocks based on the amount of cryptocurrency they have staked (locked) as collateral. PoS is energy-efficient compared to Proof of Work. Misbehaving validators risk losing their stake (slashing). Solana, Ethereum (post-Merge), Cosmos, and Cardano use PoS variants.
A consensus mechanism where miners compete to solve computationally expensive puzzles to produce blocks and earn rewards. PoW provides strong security (51% attack resistance) but is energy-intensive. Bitcoin and pre-Merge Ethereum use PoW. The difficulty adjusts to maintain target block times regardless of total network hash power.