The curious skeptics here might want to check out the videos from CoNGA'19[0]. There are talks about posits being used and tried out in the wild with impressive results. For example, according to Millan Klöwer, 16 bit posits could be accurate enough to replace 64 bit floats in certain climate modelling problems[1]. EDIT: just realized that the example was mentioned in the article, with a link to the slides. Still, th…
For example, the posit16 with nbits=16 and es=1 encodes the exponent like:
01.0 = 0 01.1 = 1 001.0 = 2 001.1 = 3 0001.0 = 4
The format has a normal exponent field with es bits that encodes exponent in binary. When it overflows, it encodes the carry as unnary format. In the unnary format the run-lenght of the same number encodes a number. For example: 0001 would be 3, 001 would be 2, etc. Of course, the posit format is a bit bore complicate than that (it supports negative exponent, for example). But the ideia is pretty much this.
Because of this encoding, if you are working with numbers that have small magnitude posit will have a LOT of more precision than your floating point format.
But the claim that posit16 can have as much precision as binary64 from ieee-754 is misleading. The posit16 can have up to 16-1-2-1=12 bits of precision. While binnary64 always has 53 bits of precision.
They likely compared the binnary64 with posit16 using the accumulator (aka quire). I'm not sure how the quire would map to real world FPU, it uses a lot os space.