What is Sats - Alytics
What are Sats
“Sats” is short for Satoshis, the smallest unit of Bitcoin (BTC). One Satoshi (sat) is equal to 0.00000001 BTC (one hundred millionth of a Bitcoin). In other words, there are 100,000,000 satoshis in a Bitcoin. This unit’s name is derived from the creator of Bitcoin, Satoshi Nakamoto.
Analytics for your Bitcoin and Lightning transactions.
Alytics is the systematic computational analysis of data or statistics. It is used to discover, interpret, and communicate meaningful patterns in data. Analytics helps us see insights and meaningful data that we might not otherwise detect.
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What is a Lightning Transaction
A Lightning Network transaction is an off-chain payment method for Bitcoin that enables faster, lower cost transactions by using a network of Layer 2 payment channels to move small transactions quickly from the sending to the receiving party without requiring the full consensus process. The transactions do not require any additional blockchain storage, allowing multiple payments to be settled in a single transaction on the main blockchain when enough payment channels are combined. Essentially, it allows you to send and receive Bitcoin instantly and with lower fees by moving transactions off of the main blockchain network.
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