BIP 177 is a Bitcoin Improvement Proposal introduced by Synonym CEO John Carvalho that seeks to replace the satoshi denomination with a new unit called “bits”.

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BTC developer John Carvalho introduced Bitcoin Improvement Proposal 177 (BIP-177) on April 23. The proposal suggests removing satoshis, which are currently the smallest unit of Bitcoin, and replacing them with a simplified denomination known as bits.

The proposal was introduced by Synonym CEO John Carvalho last month and is known as BIP 177.