What is The Purpose of "Decimals" in Every Tokens ?.
Enlighten me please.
It's easier to count and distribute. That is the short answer to your question, the decimals can get sent without having large numbers involved. Enlighten me please.
Topic: Decimals? (Read 203 times)
What is The Purpose of "Decimals" in Every Tokens ?.
Enlighten me please.
Enlighten me please.
You may have notice that supply of some tokens is in billions while for some it is around 1-2M. So to adjust fiat value, coin needs decimals.
For example, if ICO sale 100 tokens for 1 ETH each token worth $3.5 and people may send amount in proportions. But if ICO sale 100K tokens for 1 ETH, it doesn't require decimals as value of less than 1 token is negligible.
PS: suppose if Bitcoin wouldn't have decimals then you couldn't trade amound less than 1 BTC!
The fiat currency we have always known is divisible to only 2 decimal places. This represents a huge paradigm shift. This is one of the special features bring new breakthrough in way of trading that BTC pioneered. This makes it easier to trade with the smallest number.
Why do you need to ask this? it is so obviously mate. It work as the same way as your fiat money has cents.
1 dollar, one cent (0.01$) it is a decimal, the same applies to all those tokens that you must have.
And bitcoin has a lot of decimals, a few years ago they were worth nothing, and nobody wanted to have decimals of bitcoins. But now that the price is so high, everybody want to have decimals in their bitcoins because it is necessary. 0.0001 bitcoins is almost a dollar, and a few years ago it was not even two cents.
The same happens with all those altcoins that are on the market, only that it is much less money than that.
1 dollar, one cent (0.01$) it is a decimal, the same applies to all those tokens that you must have.
And bitcoin has a lot of decimals, a few years ago they were worth nothing, and nobody wanted to have decimals of bitcoins. But now that the price is so high, everybody want to have decimals in their bitcoins because it is necessary. 0.0001 bitcoins is almost a dollar, and a few years ago it was not even two cents.
The same happens with all those altcoins that are on the market, only that it is much less money than that.
What is The Purpose of "Decimals" in Every Tokens ?.
Enlighten me please.
Enlighten me please.
It's simply to allow users to transact very small portions. In coins with a big price per coin such as Bitcoin (and to a lesser extent bitcoin cash and ethereum), this is very useful and very much needed for microtransactions.
Some tokens can have very high price, so decimals allow to trade using the minimum allowed amont. So for instance, If a token price is 10000$ it's not convinient to trade having only round numbers. But if it has 8 decimals so the minimum trading price of 0.00000001 will be just 0,0001$. Thats why most of tokens have decimals.
What is The Purpose of "Decimals" in Every Tokens ?.
Enlighten me please.
Enlighten me please.
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