Alright, let me give you a brief on what's happening as I understand it.

30 Jun 2024, 18:09

Alright, let me give you a brief on what's happening as I understand it. - The Kaspa network is running smoothly and in accordance with its designed logic. - The Kasplex indexer seems to be running without any hitches, too. - Despite this, there are issues both with minting KRC-20 tokens and with ordinary user transactions. This can be attributed to the following combination of factors: First off, the devs at Kasware (the wallet) didn’t quite nail their solution for minting, both in terms of software and logistics. The most glaring issue is their servers are overloaded. For some reason, instead of just broadcasting a prepared transaction through a node into the network, their wallet first makes a call to the Kasware server. This could be related to an additional fee for minting, set at 0.1 Kaspa as stated in the wallet. Secondly - due to the fact that dust attack prevention mechanism is in place on Rust nodes following KIP-9 - when minting transactions are formed, they should have been not just 0.2 Kaspa in size, but ideally at least 1 Kaspa (or their construction logic should have been more complex, taking into account the balance of inputs and outputs) - after all, that transfer still goes to the person’s own wallet, not to someone else's. This would have reduced the impact of the dust attack prevention mechanism, which currently leads to minting transactions having a large weight, close to the maximum allowed. As a result, only about 20 to 40 such transactions fit in a block. With a 1 Kaspa output size, many more could fit. But devs were probably racing against a deadline and didn’t thoroughly check their solution. These problems weren’t visible in the testnet, because there, with 10 blocks per second and very few minters, it looked fine. (Note: pay attention to the difference in approaches between the core developers and third-party developers. Kaspa developers aren’t ever in a rush with releases because they fully understand the consequences of any mistakes. Other developers might potentially afford to loosen these restrictions, but then we might end up seeing what we're observing now). Thirdly, because these transactions are heavy in weight and only about 40 of them fit into a block, a massive backlog has accumulated in the mempool (peaking at around 37,000 transactions, with just under 12,000 at the time of writing). And all these transactions come with high fees. This is why regular users are experiencing problems: their low-fee transactions stand little to no chance of being included in a block, especially compared to minting transactions, since the chance of inclusion is proportional to the fee (more precisely, to the fee/mass ratio, but this interesting aspect is not of much importance in this particular case). And the situation is further worsened by the fact that the ecosystem (sp. wallets and exchanges) are not ready to give their user the ability to effectively compete in the suddenly emerging fee market. Simply put, they lack both the way to inform the user of the current fee size in the network, and to allow them to specify what fee to set. In the end, it looks like the network is dead to regular users, and those trying to mint are also struggling. Successful mints are a matter of luck in getting serviced by the overloaded Kasware servers, and then to be chosen out of thousands of competitors to be included in a block. And probably, those who managed to create their own utility for forming KRC-20-compatible transactions made a smart move. P.S. I want to add that turning off dust attack protection isn't a wise move: the issues for both minters and ordinary users stem from a frenzied demand for transactions, greatly exceeding the network's standard usage intensity. But this will eventually subside because it's an expensive endeavor: currently, each block brings miners an extra $3.5 on top of the regular block reward. However, the consequences of a potential dust attack would remain in the Kaspa network forever, affecting its operation for the duration of its existence. The stakes are incomparable.

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