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Founder of Twitter supports proposal to change Bitcoin's base unit
In the cryptocurrency universe, enthusiasts and developers continue to debate the best way to denominate Bitcoin units. Recently, Jack Dorsey — founder of Twitter and CEO of Block (formerly Square) — reignited this debate by declaring support for a proposal suggesting the replacement of satoshis, currently the smallest unit of Bitcoin, with a new denomination: 'bits'.
Today, one Bitcoin (BTC) is divided into 100 million satoshis, a fraction considered by many to be excessively small and not intuitive for the average user. The proposal for 'bits' arises as an attempt to simplify this logic and make Bitcoin more accessible in terms of usability and everyday understanding.
Today, one Bitcoin (BTC) is divided into 100 million satoshis, a fraction considered by many to be excessively small and not intuitive for the average user. The proposal for 'bits' arises as an attempt to simplify this logic and make Bitcoin more accessible in terms of usability and everyday understanding.
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