Hi there, this may sound like a basic question but if the minimum number of algos a wallet can have is limited to 100,000 micro algos, what would happen if the price of an algo is, say, £10 - would that mean the minimum transaction could only be £1? I’m sure I’ve overlooked something here and there is a perfectly rationale answer out there there but I thought I’d create this topic since I’m new here too.
0.1 Algos = 100,000 microAlgos is the minimum balance of an account.
You may send transactions for any amount of Algos as long as the resulting balance of the recipient account is at least 0.1 Algos.
This is to prevent people from create many fake accounts and making the storage used by nodes explode.
0.1 Algo is a consensus parameter than can be changed in the future if 90% of the nodes agree.
Very clear, thank you