A Quick Update on KRC20 Issues:

  • The KRC20 upgrade is deemed to be a “beta” and have run into problems during live production staging
  • The Kaspa team is still working through lots of issues and unforeseen problems
  • There is no concrete date set for another upgrade, community are looking to Kasplex to lead this
  • Upgrade issues seemed to cause devs to pause Kaspa nodes

We still are super early on the development of Kaspa and its ecosystem. The KRC20 launch was a beta and although there are some things to celebrate (i.e the fact that meme coins can in fact be minted), it seems it left a lot to be desired overall.

I tried to mint one $KAS into $NACHO — it took five hours and never appeared in my wallet. Of the thousands of members in discord groups I was in, maybe 1% were able to mint anything at all.

It hasn't been smooth sailing at all. There were some hiccups and issues, which led to a temporary halt in KRC20 operations. The Kaspa core team has been working closely with the Kasplex team to address these problems, particularly the fee market issues — according to Grok.

The Kaspa team have been great so far in giving a brief analysis of what they think happened but I can't help feeling they are glossing over stuff (understandable, as they've not had time themselves to fully digest what happened) and no official update has been issued on the news section of their main website. For instance, they state the network didn't come to a halt but many Kaspa followers on twitter clearly had issues transacting/transferring on the network.

The minting issues were primarily Kasplex/KasWare issues, which is seperate to the Kaspa core development team. The KasWare Wallet has been updated to version, which includes optimizations to network connections and switching, as well as support for setting your own RPC.

Despite the challenges, the Kaspa community remains optimistic about the future of KRC20. It seems like Kaspa is determined to get KRC20 back on track and continue pushing the boundaries of what's possible in the crypto world… Show Less

2024 Cyrator - Crypto Research Community

Disclaimer: The content presented on this website, including any analyses, reviews, and ratings, is provided for informational purposes only and should not be considered financial advice. Cyrator does not endorse or recommend any financial transactions or investments based on the information available on this platform. Visitors to this site should perform their own due diligence and consult with a professional financial advisor before making any investment decisions. Cyrator is not liable for any actions taken, financial or otherwise, based on information or links from this website.