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Foundations / Units & Symbols #61
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Interesting thread on why we should start using bits and sats as denominators. |
A question from Slack that we should answer to on this page.
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Looking for someone to research and write this foundations page relating to payments.
Below is a rough outline to get you going.
Units
Currently there are two units that are widely used in apps, bitcoin and satoshi (sats). Satoshi seems to be what is used mostly within apps that support lightning payments. Bitcoin with 8 decimals is the unit common to onchain payments. Making a 1 satoshi payment in a transaction onchain isn't going to be so economical.
On lightning network the base unit is millisatoshi/msats which is a subunit of satoshis (I've never seen this exposed in a UI though).
There are also other units which are less used colloquially, and it's an interesting the process of how these units come into use. Should they also be included in the guide (see Units)?
Symbols / Codes
Consider Amount Display
Once these foundations are written - you should have a good base to explore Amount Displays more deeply. @GBKS has captured some of the early conversations around amount display in the community slack in issue #3 and can actually be included as is for a first version.
REF
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