The TON blockchain experienced two significant outages within 24 hours, halting transactions due to an overload from the DOGS token minting, raising concerns about the network's ability to handle high traffic.
Second Disruption in 24 Hours
Telegram's TON blockchain, the backbone of the Toncoin (TON) cryptocurrency, experienced its second significant outage within 24 hours, halting block production for over three hours. The issue, initially attributed to the excessive load from the minting of the DOGS token, left the network unable to process transactions, according to an announcement from the TON Network team on X.com.
The disruption, which began at 19:19 UTC, prompted the TON Core team to release an update urging mainnet validators to restart their nodes. Despite efforts to resolve the issue, the network struggled to regain normal operations.
Impact on Toncoin and Network Performance
Despite the disruption, the price of Toncoin (TON) remained relatively stable, experiencing only a minor dip of 0.99% over four hours and a 4% decrease over 24 hours, as reported by CoinDesk. This statistic contrasts with previous declines, including a 2% drop following the initial outage. Over the past four days, TON has seen a cumulative decrease of 16.5%, reflecting the impact of recent events on investor sentiment.
The initial disruption, which occurred during Asia trading hours on Wednesday, also had minimal long-term effects on TON's price. The outage lasted approximately seven hours and was similarly linked to the heavy traffic generated by the DOGS airdrop.
Telegram and TON
The TON blockchain, originally developed by Telegram but later handed over to the community due to regulatory pressures, has seen significant growth in recent months. Toncoin's rise into the top 10 cryptocurrencies by market capitalization highlights the network's increasing prominence. Even though Telegram is independent of TON, the token is still used regularly by the platform’s users.
Ongoing Challenges
The recent outages underscore the challenges plaguing the network, particularly in handling high transaction volumes. The network is already under duress due to the arrest of Telegram’s founder and CEO, Pavel Durov. The DOGS airdrop was supposed to be part of a broader strategy to raise awareness about Durov’s case. While blockchain disruptions are not uncommon, they often indicate underlying issues that need to be addressed to ensure long-term stability. Even though Toncoin's price has so far shown resilience, the repeated disruptions could have longer-term implications if such issues persist.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
