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DIP: Locale-based, User-Friendly Significant Digits
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<pre> | ||
DIP: aj-locale-decimal-places | ||
Title: User-Friendly, Locale-based Significant Digits | ||
Authors: coolaj86 | ||
Special-Thanks: Rion Gull | ||
Comments-Summary: No comments yet. | ||
Status: Draft | ||
Type: Standard | ||
Created: 2023-06-30 | ||
License: CC0-1.0 | ||
</pre> | ||
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## Table of Contents | ||
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- [Table of Contents](#table-of-contents) | ||
- [Abstract](#abstract) | ||
- [Prior Art](#prior-art) | ||
- [Motivation](#motivation) | ||
- [Specification](#specification) | ||
- [Copyright](#copyright) | ||
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## Abstract | ||
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This DIP proposes to only show DASH in increments that are useful to the end | ||
user, rounding down excess digits. | ||
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Before: | ||
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```sh | ||
You've received 0.99999807 DASH | ||
``` | ||
After: | ||
```sh | ||
You've received 0.999 DASH | ||
``` | ||
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keywords: denominations denominated floor round down locale | ||
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## Prior Art | ||
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Unknown | ||
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## Motivation | ||
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The value of DASH can be quite volatile from one day, hour, or even second to | ||
next. So much so that showing 8 decimal places of "sats" is not helpful to end | ||
users. In fact, it probably degrades user experience significantly for most | ||
people. | ||
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Also, there are no delimiters for the right side of a decimal place: | ||
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``` | ||
10,000,000.00000000 | ||
``` | ||
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Although terms such as "mDash" exist, they are not widely used in Dash software | ||
and, since they don't follow general scientific notation that most people are | ||
familiar with internationally (DASH uses 8 decimal places, not 9), they can be | ||
confusing to try to use. | ||
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The volatility alone from one (literal) minute to the next make it unreasonable | ||
to track so many decimal places. | ||
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Also, exchanges such as Kraken do not honor DASH coins less than `0.01`. | ||
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Other price estimators rarely go to the full 8 decimal places. | ||
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In Dash Discord channels this is often associated with the "mental gymnastics" | ||
necessary to use DASH. | ||
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If DASH is to be "Digital Cash", the value shown to the user should be limited | ||
to "spendable" amounts (ex: how much DASH would I need for a casual, low cost | ||
commodity such as pack of gum, breath mints, bottle of water, or bread). | ||
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## Specification | ||
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Due to the volatile nature of DASH a fixed number of decimal places may not | ||
always apply, but we can apply locale information and a simple set of rules that | ||
will almost always be correct. | ||
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1. Select the lowest, known-cost commodity, priced in DASH. | ||
2. If the price in DASH is not available, use data based on the user's preferred | ||
local currency and convert that value into DASH. | ||
3. Round up (`ceil`) to the next most significant decimal place. | ||
4. Divide by 10. | ||
5. This is the maximum number of decimal places that SHOULD be shown to the | ||
user. | ||
6. DASH shown in this amount should be rounded down. \ | ||
Ex: if 3 decimal places are used, `0.99999807` MUST be shown as `0.999` | ||
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Example: | ||
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```text | ||
Bottle of Water: $1.19 (USD, my Locale) | ||
Water in Dash: 0.031654 DASH (as of the date of this publication) | ||
Significant Digit: 0.04 DASH | ||
Divide by 10: 0.004 | ||
Number of Decimals: 3 | ||
``` | ||
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Caveats: | ||
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- The User Agent MUST allow the user to override this in settings | ||
- The User Agent MUST NOT exceed this by more than 1 decimal place by default | ||
``` | ||
Algorithm suggests 0.001 as lowest denomination | ||
Usage Agent MUST NOT show lower than 0.0001 by default | ||
``` | ||
- In the absence of the appropriate data, the number of decimal places to be | ||
shown SHOULD be 3 and MUST NOT be more than 4. | ||
- When possible the software should warn the user if they are sending an amount | ||
to a contact or service that will not honor that number of decimal places | ||
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## Copyright | ||
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Copyright 2023 AJ ONeal. | ||
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Written in 2023 by AJ ONeal <[email protected]> \ | ||
To the extent possible under law, the author(s) have dedicated all copyright \ | ||
and related and neighboring rights to this software to the public domain \ | ||
worldwide. This software is distributed without any warranty. \ | ||
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You should have received a copy of the CC0 Public Domain Dedication along with \ | ||
this software. If not, see <https://creativecommons.org/publicdomain/zero/1.0/>. |