What is the role of 's' and 'p' in the terminology of virtual currencies?

3 answers

• officer_clawhauserMay 02, 2021 · 4 years ago
  The letters 's' and 'p' play important roles in the terminology of virtual currencies. 'S' stands for 'satoshis', which is the smallest unit of Bitcoin. It is named after Satoshi Nakamoto, the pseudonymous creator of Bitcoin. 'P' refers to 'private keys', which are cryptographic codes that allow users to access and control their virtual currency holdings. Private keys are essential for securely storing and transacting virtual currencies. Without a private key, it is impossible to access or transfer virtual currency holdings. So, 's' and 'p' are key elements in the world of virtual currencies.
  599

  300
• Anshika RajAug 10, 2023 · 2 years ago
  The 's' in virtual currencies represents 'satoshis', which are the fractional units of Bitcoin. One Bitcoin is equivalent to 100 million satoshis. Satoshis are named after Satoshi Nakamoto, the mysterious creator of Bitcoin. The 'p' in virtual currencies stands for 'private keys'. Private keys are unique codes that allow individuals to access and control their virtual currency holdings. They are essential for securely managing and transacting virtual currencies. Without a private key, it is impossible to access or transfer virtual currency assets. So, the 's' and 'p' in virtual currencies play crucial roles in the ecosystem.
  632

  211
• Heath NorwoodNov 08, 2020 · 5 years ago
  In the terminology of virtual currencies, the letter 's' represents 'satoshis', which are the smallest units of Bitcoin. One Bitcoin is equivalent to 100 million satoshis. Satoshis are named after Satoshi Nakamoto, the enigmatic creator of Bitcoin. On the other hand, the letter 'p' refers to 'private keys'. Private keys are cryptographic codes that allow individuals to access and control their virtual currency holdings. These keys are crucial for securely managing and transacting virtual currencies. Without a private key, it is impossible to access or transfer virtual currency assets. Therefore, the 's' and 'p' in virtual currencies have significant implications for users and the overall functioning of the digital currency ecosystem.
  743

  186