CEO synonym John Carvalho brought to the community's discussion a proposal to rename the 'bitcoin' to a smaller week as a result of the first cryptocurrency.
"This BIP aims to simplify user understanding, reduce confusion, and directly align on-chain values with their displayed representations," he wrote.
The current convention defines 1 BTC as 100,000,000 base units, informally called satoshis or sats. Carvalho believes these terms are outdated, so a reevaluation is necessary.
Such a move would eliminate decimal points, simplify the use of cryptocurrency, and reduce error limitations by using red on.
As an example, the expert mentioned the current amount of 0.0001 BTC, which, if his proposal is accepted, would transform into 10,000 BTC (or 10,000 ₿).
This means that the changes do not contradict the rules of the registry and consensus.
"Adopting the smallest unit as the basic measure provides a unified standard that can smoothly scale as the pace of decisions grows," added Carvalho.
The expert also touched upon the competing BIP 176, proposed in December 2022 by developer Jimmy Song. It suggests introducing a unit called "bit" for convenience, equal to 100 satoshis. According to Carvalho, this will not eliminate decimal numbers.
"While 'bits' may reduce some price ranges, future circumstances may bring additional denominations or scaling adjustments. Our integral approach fully addresses this issue by creating the smallest compliance measure unit, avoiding fragmentation in the long term," he stated.