Simple Wrapper Inc. introduces the Satoshi (SATO) token, a
wrapped version of Bitcoin's smallest unit – satoshi,
enhancing Bitcoin's accessibility for everyday use by
allowing transactions in whole-number amounts and reducing
transaction costs.
TORONTO,
ON, July 12, 2024 /PRNewswire-PRWeb/ -- Simple
Wrapper Inc., a Toronto-based
cryptocurrency startup, today announced the launch of
the Satoshi (SATO) token, a tokenized wrapped version of
Bitcoin's smallest unit. This development marks a
significant step forward in making Bitcoin more
accessible and user-friendly for everyday transactions and
investments, realizing Satoshi
Nakamoto's vision from 2010, who suggested that the division
of Bitcoin into fractional units may be required as it
gains adoption.
Key Highlights:
- SATO tokens represent 1/100,000,000 of a Bitcoin,
following Nakamoto's suggestion for Bitcoin
fractionalization
- Improves Bitcoin accessibility by offering
whole-number ownership and human-readable amounts
- Enhances user experience by eliminating the need to deal with
multiple decimal places
- Reduces psychological barriers for new users entering the
cryptocurrency space
SATO addresses a critical usability
challenge in Bitcoin adoption, by allowing users to
transact in whole numbers rather than tiny fractions, we're making
Bitcoin more intuitive and less intimidating for the
average person.
"SATO addresses a critical usability challenge in
Bitcoin adoption," said Andrew Zapo, Co-founder of
Simple Wrapper Inc. "By allowing users to transact in whole numbers
rather than tiny fractions, we're making Bitcoin more
intuitive and less intimidating for the average person. Imagine
buying a coffee for 10,000 SATO instead of 0.0001 BTC – it's a
game-changer for everyday use."
The Satoshi (SATO) token operates on major networks including
Ethereum, Optimism, Arbitrum One, and Polygon,
broadening its accessibility across various blockchain
ecosystems.
"We've tried to make it as simple as possible to minimize the
security risks," explained Andrii Zamovsky, Co-founder of Simple
Wrapper Inc. "Each SATO is backed by 1/100,000,000 of a
Bitcoin. The wrapping and unwrapping process is
facilitated by a simple smart contract, and anyone can audit the
reserves onchain. This transparency and simplicity are crucial for
maintaining trust in the ecosystem."
The founders anticipate that SATO will particularly benefit:
- New crypto users who prefer dealing with whole
numbers
- Retail applications where small, precise amounts are
necessary
- Micro-investment platforms looking to offer fractional
Bitcoin ownership
- Educational initiatives aiming to teach Bitcoin
basics without the complexity of multiple decimal places
The launch of SATO also opens up new possibilities for
Bitcoin in DeFi applications, potentially
increasing its utility in various financial products and
services.
For more information about Satoshi (SATO) and how to acquire
tokens, please visit getsatoshi.org.
About Simple Wrapper Inc.
Simple Wrapper Inc. is a Canadian-based startup co-founded by
Andrew Zapo and Andrii Zamovsky. Andrew Zapo brings a wealth of
experience from his previous role as CEO of BlockGeeks, an
educational platform on blockchain technology founded in 2016.
Andrii Zamovsky has been a prominent figure in the blockchain
industry since 2010, having founded multiple successful companies
including Ambisafe, Orderbook, and Tabla.
Media Contact:
Website: getsatoshi.org
Email: hello@getsatoshi.org
Twitter: @sato_token
Telegram: @satotoken
Media Contact
Andrew Zapo, Simple Wrapper Inc., 1 4168219655,
hello@getsatoshi.org, https://getsatoshi.org
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SOURCE Simple Wrapper Inc.