The main technical issue that is keeping XCH price down

EDIT:
A user reported wallet sync time of 1 minute, if others confirm that would mean the issue is solved.
On my side After a couple of more hours, the wallet Synced, but the problem was I didn’t know it was going faster than the full node. For new users I think would be important to be able to easily see what’s the progress of the wallet sync just looking at this screen area:

Hello,

I’ve been with CHIA since 2020, following mostly and doing farming, testing, but I never gave my feedback.

Now I believe it’s time to get involved, and since I am also a developer I hope I can start this discussion and contribute to the solution if required.

The main technical issue that I think it’s keeping CHIA price down is the slow initial sync.

The CHIA mainnet blockchain is less than 2 years old and yet the sync is so slow.
Immagine how slow it will be when the blockchain will be 5 years old, or even 10.
With the current speed how accessible will be to start using CHIA on desktop with their own wallet?

So the purpose of this thread would be:

  • to gather some data, please post your syncing time in hours from zero to today and your type of internet connection / computer specs.
  • bring to the attention of the developers this issue
  • understand what is causing the slow sync time, what are the obstacles to make it faster and how can this be done.

Thank you,
please participate with your data.
only together I believe we can make Chia better.

Leonard.

3 Likes

I just synced my btc node, made chia seem ok speed wise to me.

( Sorry as slightly of topic, but very relevant. )
But i very much doubt thats keeping the price down.
IMO chia is just not widely adopted as yet, and we have huge inflation.
I think that has far more bearing on the price than sync time.
Sync can be very fast if you just download the chain, just like with btc.

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Bitcoin also has this issue, and is one of the reasons why the price went down

Chia needs to be better than BTC, and I am convinced it can be better and the sync can be faster.

What was you sync time for both CHIA and BTC?

Thank you

I can’t sync completely because I have the data on a mechanical hard disk. I also think this is a problem for chia adoption but didn’t say it’s the main problem.

In my opinion, the wallet is too complex for a normal user that only wants to use it as a coin. The dev focused on the crypto world and forget the rest.

Why the app doesn’t have a simple folder select during the installation?

We need a wallet so simple as Bitcoin have.

2 Likes

i completely disagree, download either chain and sync is fast.
I also dont believe that has anything to do with why btc price dropped.
IMO its just a 3 yearly cycle that happens centered around the btc halving, and that is generally accepted as the way it works by many, dare i say most.

Hard to say, not fully synced chia in a long time, i keep backups.
Btc took weeks.

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Open your gui, go to the settings tab move the slider to wallet if you just want a wallet.

IMO btc core wallet is more complex.

i completely disagree, download either chain and sync is fast.
I also dont believe that has anything to do with why btc price dropped.
IMO its just a 3 yearly cycle that happens centered around the btc halving, and that is generally accepted as the way it works by many, dare i say most.

it’s not that simple: the average user just downloads the wallet and expects it to sync as fast as possible.
a new user doesn’t know it can be faster downloading separately the blockchain and inserting it somehow into the folder, this is not user friendly, and for software the first impression matters, if I am new and I see it’s slow to sync I believe what I see and I blame it.

It’s 2022 everyone expects software to be as smart as possible not to look for workarounds on how to manually tweak the system.

The UX matters for price, if I buy CHIA or BTC on exchange and transfer it to my wallet I expect to see it istantly or in a couple of minutes… this doesn’t happen for new users since their system is not synced and they have to wait a lot for it to complete.

But for CHIA 1.6.1 I just discovered my wallet is synced even before my full node is, but until it was completely sync I didn’t know what was the wallet sync progress… where is the indicator for that? I think it’s missing… it would be nice for new unexperienced users to know their wallet it’s 50% sync for example and X hours are left…

So my conclusion for now is that some UX elements are missing for Chia to tell the users how the sync is going… but the wallet syncs fast… it only completed in a couple of hours… so the issue was I didn’t knew it was going way faster than Full Node.

is this really an issue?
For full nodes / farmers, likely.

For end users I dont think so with the wallet mode and online wallets simmilar to metamask.

My primary concern as of right now is the capacity of transaction throughput

an additionall issue for me is that when I charge 1 chia on my wallet, I can only do one transaction at a time. Gas price should possibly be automatically calculated for end users and the wallet should break down the ballance into smaller chunks when doing a transaction so that I can do more thansactions at a time.

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What’s your sync time in wallet mode?

Also are you able to tell what’s the status of sync process for wallet only?

Thank you

sync time in wallet mode is under minute for me. For me its definitely acceptable.

A % status would definitely better than just the yellow “syncing” indicator I think.

what is also important would be a way to cancle a transaction or increase its fee when its stuck.
They mentioned something in the documentation but I didnt manage to do it yet.
My transactions get stuck frequently, because I try to set the fees as low as possible but as high as required and the fees fluctuate a lot which makes it hard to predict if I can run a transaction at 0 fee, 100, 1000 or 10k mojos.

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wow, under a minute, of course that’s acceptable… I had to wait hours over a couple of days… my internet connection is slower probably…

So yes would be good to have a progress bar to see wallet syncing.

I am the only one here who waited hours for it to sync?

Thanks

in wallet mode, are you sure you didnt use a full node? I have the full node synced in hours to 1 day.
That beeing said, im on a 10 gb connection here.
Wifi is able to push 1 gib/s on my laptop

What I notice is for you:
image

for me it looks like this:
image

Doing a timer on my laptop showed:

  • from click to start of the wallet: 24 seconds.
  • syncing time: 34 seconds.

Total of 58 seconds. I had the wallet open last the day before.
Perhaps the wallet takes longer on first sync. but I dont think It makes that much of a difference as I recently created a new wallet. Perhaps max 5 Minutes.

Yes, I left it in wallet mode for about 1 hour, when I saw no progress I switched to Full Node in belief something was off…

My internet speed:
image

16 mbit is not the fastest but I wouldnt expect more than 10 minutes. For the most part, my wallet seems to pull 30-100 mib/s max.

Such a pitty this mb vs mbit thing. you never know who uses what. So in the worst case, you would pull with 1.4mb/s in the wallet. Perhaps you want to click the wallet icon and see at which rate you pull data from other full nodes

Thats all dependant on the system, so different for everyone.

If you just want a wallet that syncs fast you just use the light wallet and not the full client.
Its been made, if ppl dont bother to find it, thats on them

Your just expecting alot to be honest, if ppl cant be bothered to learn about downloading chains , using light wallets etc theyre just not that intetested.
Everything in life takes effort and has a learning curve.

2 Likes

I disagree, if ppl dont manage to find it, its too hard to use. It must be as easy to use as possible.

but when opening the first wallet, it litterally asks you, if it should run in wallet or full node mode. Perhaps wallet should be set as default.

3 Likes

Does it tell the user what each of the choices means?
Or does it offer a link that provides the details so that the user can make an informed choice?

Otherwise, new users are not going to know what to choose, or how to undo their choice if they later change their mind.

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what have you expected. its written with python, check randomly snippet of a code. just a bunch of async procedures, what SOLID what DDD? Naah “Homey don t play that”. Of course there are plenty of ways to improve and even grow in quality, but … i don’t think nowadays it’s number one topic for CHIA. Hehe.

And yet, and i really think so, still a tremendous job was done and still is up. Way to go DEVS, but the future requires higher levels.

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XCH price, especially in light of the current happenings in the crypto world is rock solid! It hardly budged. I think ~$30 is the floor.

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so far true thing :eyes:

1 Like