Szabo (Unit of Ether)

Published:

A Szabo is a denomination of Ether (ETH), the native cryptocurrency of the Ethereum blockchain. Ether, like many other cryptocurrencies and traditional fiat currencies, can be divided into smaller units to facilitate transactions of varying values and to provide a more granular representation of amounts. The name “Szabo” pays homage to Nick Szabo, a renowned computer scientist, legal scholar, and cryptographer who is credited with pioneering research in digital contracts and digital currency, including the concept of “smart contracts” which are fundamental to Ethereum.

One Ether is equivalent to 1,000,000,000,000 (one trillion) Szabo. To put it in perspective with other Ether denominations:

1 Ether = 1,000,000,000 Gwei (Giga-Wei)

1 Ether = 1,000,000,000,000 Mwei (Mega-Wei)

1 Ether = 1,000,000,000,000,000,000 Wei

Therefore, 1 Szabo equals 1,000,000 Wei. While casual users might primarily interact with Ether or Gwei (especially for gas fees), denominations like Szabo exist to provide a comprehensive system for denominating value within the Ethereum ecosystem, particularly for technical discussions or when dealing with very specific amounts at a programmatic level.

Follow us on Facebook and LinkedIn to keep abreast of our latest news and articles