{"id":144933,"date":"2024-12-16T13:00:39","date_gmt":"2024-12-16T11:00:39","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=144933"},"modified":"2024-12-16T02:09:06","modified_gmt":"2024-12-16T00:09:06","slug":"bitcoin-proposal-aims-to-simplify-transactions-with-new-unit-structure","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/bitcoin-proposal-aims-to-simplify-transactions-with-new-unit-structure\/","title":{"rendered":"Bitcoin Proposal Aims to Simplify Transactions with New Unit Structure"},"content":{"rendered":"<p>His <strong><a href=\"https:\/\/stacker.news\/items\/808258\">plan<\/a> <\/strong>aims to shift the focus from the traditional model, where one Bitcoin (<strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">BTC<\/a><\/strong>) is divided into 100 million satoshis (sats), to a system that uses the satoshi as the primary unit of measurement.<\/p>\n<p>Under Carvalho&#8217;s proposal, the concept of &#8220;one Bitcoin&#8221; would be redefined to represent the smallest unit of Bitcoin, the satoshi, instead of the larger BTC unit. This change would eliminate the need for decimal places in Bitcoin transactions, simplifying how Bitcoin values are displayed and making them more user-friendly. For example, a transaction currently shown as 0.00010000 BTC would instead be represented as 10,000 BTC under this new framework.<\/p>\n<p>Carvalho believes this change will reduce confusion and align Bitcoin\u2019s appearance with its underlying protocol, making it more accessible to newcomers. He argues that the decimal point in Bitcoin transactions is an artificial construct and that the technology behind Bitcoin supports this kind of shift.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/top-economist-argues-bitcoins-fixed-supply-makes-it-superior-to-gold\/\" title=\"Top Economist Argues Bitcoin\u2019s Fixed Supply Makes It Superior to Gold\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/bitcoin-gold-3-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Top Economist Argues Bitcoin\u2019s Fixed Supply Makes It Superior to Gold<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>This is not the first time the structure of Bitcoin&#8217;s units has been debated. In 2017, Jimmy Song, a prominent Bitcoin developer, proposed BIP 176, which recommended using \u201cbits\u201d as a unit to simplify smaller transactions. However, this suggestion did not gain widespread traction.<\/p>\n<p>Some critics argue that altering Bitcoin\u2019s unit system could create complications for existing wallets, exchanges, and other platforms built around the current structure. Additionally, they warn that such a change could lead to confusion among users and potentially cause transaction errors during the transition.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>John Carvalho, a well-known Bitcoin supporter, has introduced a new proposal that seeks to overhaul how Bitcoin is quantified and represented.<\/p>\n","protected":false},"author":3,"featured_media":33978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[27,23],"tags":[],"class_list":["post-144933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-blockchain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Proposal Aims to Simplify Transactions with New Unit Structure<\/title>\n<meta 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