DIP: Locale-based, User-Friendly Significant Digits

[coolaj86]

Preview

https://github.com/dashhive/DIPs/blob/aj-significant-locale-digits/dip-aj-significant-locale-digits.md

In Short

An algorithm for selecting the appropriate number of significant decimal places to show the to the user.

Ideal: calculated based on locale

Default: 3

Instead of:

0.99999807

Show:

0.999

Addendum

This could (and should) be enforced at layer-1.

Transactions below 0.001 or 0.0001 (depending on the relative price of DASH) should be considered DUST and rejected.

[PastaPastaPasta]

Concept NACK; this feels purely like a UX decision to be made by each wallet designer. Nothing in the DIP restricts or enables features on the actual Dash network, nor does it in my opinion propose a standard such as BIP69 which is only valuable if a significant number of wallets use this. Each wallet can independently choose to implement or not implement something similar to this, but I don't think this makes sense as a DIP

[coolaj86]

like a UX decision to be made by each wallet designer

That's what it has been. That has to stop. There needs to be clear direction and cohesion.

Each wallet can independently choose to implement or not implement something similar to this

Is Dash moving towards digital cash, or no?

This is necessary for a variety of other dips.

It needs to take hold at the protocol level eventually.

[coolaj86]

I believe that this should start as a UX (and the Dash UX certainly is part of Dash) change, but ultimately the definition of DUST should be adjusted to be anything below 0.001 (or 0.0001, depending on price) to prevent abuse via junk transactions (which is a step toward eliminating fees, which would also solve other problems, such as the 0.99999807 problem)

Currently, however, that would require a change to the CrowdNode Blockchain API, which abuses the decimal places as part of an L-1.5ish protocol, rather than to send money.

[coolaj86]

Consideration: Not Locale-based, just Dust-based.

Any transaction where the cost of the transaction approaches 1% or greater of the value being transferred cannot provide a cost advantage over other forms of digital payment (and could certainly not be classified as digital cash).

100 x 193 = 19,300

19,300 sats = 0.000193000 DASH

This would mean that ~0.0002 is just DUST.

That, in turn, would mean the smallest significant digit should be 0.001 (maybe with a possibility of the use of 0.0005 as the smallest denomination, but not 0.0001).

If Dash reaches a value were 0.0001 would actually be useful as a spendable value, the fees would be so high that Dash wouldn't be a tenable medium of exchange compared to alternatives.