The Open Community (TON) — the Telegram-linked blockchain community — skilled a technical concern within the early hours of Wednesday that noticed the community go offline, prompting exchanges like Bybit and Binance to halt deposits and withdrawals on the community in the course of the time. It appeared that the blockchain was present process a network-wide outage earlier than its builders disclosed the rationale for the downtime and restored the community. The TON blockchain remained offline for just a few hours, earlier than it resumed block manufacturing.
TON Community Downtime: What Precipitated the Outage
The TON blockchain stopped processing transactions for a notable time interval on Wednesday. A number of crypto and blockchain fans shared screenshots exhibiting that the blockchain was not creating new blocks. The observers additionally famous that it took as much as six hours for the TON blockchain to be up and working once more.
The explanation why this glitch occurred is the heightened buying and selling exercise across the newly launched memecoin – Canine. The Canine Coin is a part of a brand new recreation on the Mini Apps market on Telegram, named Canine. The sport lets Telegram customers play on the app and gather Canine Coin. The ecosystem of the Canine memecoin is supported on the Ton blockchain.
On August 26, the Canine Coin was listed on Binance and different crypto exchanges – after which transactions round this memecoin rapidly picked tempo. Customers who collected Canine Coin by taking part in its recreation on Telegram rushed to the market to commerce and promote.
“Because of excessive latest exercise (>20 million transactions in latest two days), rubbish assortment overloaded a lot of validators for sufficient time for them to misplaced consensus with one another,” the replace shared by the Ton blockchain claimed.
To resolve the state of affairs and restore consensus, the validators of this blockchain wanted to be restarted at about the identical time with particular flags.
As a precautionary measure, Binance and ByBit reportedly suspended deposits and withdrawals to and from the community. It’s at present unclear whether or not the TON blockchain-related companies are restored on these exchanges.
In the meantime, the TON blockchain was restored just a few hours in the past and is again on-line, whereas block manufacturing has resumed.
It was beforehand reported that TON’s native crypto token Toncoin misplaced about $2.7 billion (roughly Rs. 22,670 crore) in market worth following Telegram founder Pavel Durov’s detention in France.
Whereas the TON basis is a separate entity from Telegram, it’s the brainchild of Durov and his brother, Nikolai Durov. The community was conceived by its co-founders round 2019 however it reportedly launched on a wider scale in 2022.
