Let's assuming that I have an existing database that retaings fiat currency transaction as described below with
decimal (18, 4).
Now, I would like to record bitcoin, ethereum and erc20 token transactions.
Transaction ------------------ TransactionID CurrencyID UserID DebitAmount decimal(18, 4) CreditAmount decimal(18, 4)
The decimal precision of cryptocurrency is suggested as follows:
decimal (16, 8) -- bitcoin decimal (30, 18) -- ethereum / erc20 token
I am thinking of just:
Treating bitcoin, ethereum, erc20 token as new currency in the
decimal(30, 18)data type changes to all the tables that retain currency amount.
My questions are:
Any possible impact to original currency amount conversion that I need to look after for when I increase the precision (eg. currency rate change
DebitAmount * 1.023)?
Am I doing this in the "correct" way?
Is there any other better approach/alternative to this?