Meaning of Token decimals.

[Obolo]

Day in day out, most altcoins keep coming out and I have realize that, all these altcoins have specific details such token symbol, name, smart contract, decimals, and others. The token decimal is what keeps me wondering as to what it is about, because the tokens I have seen so far has 2 ,4, and 18 decimal indicated as part of their details. I want to know what token decimal is all about and what does it do to a particular altcoin.

[Jaslinbor28]

I must say thank you for this comment, I am really glad that people are wanted to knows about this but I am afraid that I don't have any cl3ar idea regarding this topic and most of us don't cause it still has not able to gain the popularity among the users so I thing it will be better if you gather the information on your own instead of trusting on other statement

[Obolo]

Alright. I think I will have to spend some time and research on that and come out with something beneficial.

[Herbert2020]

i believe what you are talking about is the number of decimal places that each coin/token can have. for example bitcoin has 8 so 1BTC is equal to 1.00000000BTC. usually altcoins follow this and they all have 8 decimals. but they can have any other number too.

the thing is, this somewhat shows the supply of the coin. at code level there is no decimals. there is only integers. for example in case of bitcoin, there is no 1 bitcoin, there is only 100000000 satoshi.

so you can look at this way, a token can define 1000 satoshi as its 1 whole unit to have 3 decimals. or it can define 100000000 satoshi as its 1 whole big unit to have 8 decimals. but if it does the first one then you can't compare its supply with others unless you convert all of them to integers then compare.

[easybtcearn2017]

That's an informative post. Token decimals are a bit complex topic to understand. A decimal token informs users about the number of decimals.

[HerbertMarcel]

Token decimal actually means that the currency is divided into smaller units. In other words it is just the fraction of the token.

[farnandezetn]

When we create a standard token based on the ETH link, we define the decimal places that is used by the coin. This is needed because there are no decimals in the blockchain technology.So, if the publisher of token specifies decimal places to be 2, it means 100 tokens is actually 1.00 tokens

[TommyJr]

Its true in recent time peoples are more taking about altcoin. This coin has a great reputation in the market. But i think they need more development like technology and transaction those systems.