The lovelace isn’t the smallest quanta of ADA is it? In other words, the max precision of an ADA?
And is that similar or different that the 10^8 BTC to satoshi factor? What is max precision of BTC (and ADA)?
Yet it is. (not sure if I got your question right, tbh)
It’s the equivalent of a Satoshi.
Point is if (for the sake of the math, no prediction here), if 1 ADA were ever 100 dollars, euro, whatever, 1 lovelace is like 1/100 of once cent. That is small enough for most cases, but I’m pretty sure the quanta is smaller. With BTCs at 10K, 10^8 leaves only 10^4 fractions. IIRC, for Iota it is like 10^-18.
Most currencies have a fixed point fraction that will be part of the spec. I’m just wondering what it is. It is a bit big if it is 1 lovelace.
You are right if 1 ADA would be 100 Dollar (I’m dizzy) then 1 Lovelace would be 100 / 1,000,000 = 0,0001 Dollar, which is 1/100 of a cent. Should be really small enough.
I can’t answer the question about the fixed point fraction and if there is some sort of parameter but what I know is that the protocol and the smart contract layer calculates everything in Lovelaces it’s not a decimal. So in the current version this is really the smallest fraction.
I does seem as if it is, and I do think it would be better with more precision. Give more room for expansion. On the other hand, I guess a precision change is not the biggest protocol change and pretty easy to do.
Great Video! very very easy to understand!!! 