By Mark Hunter
2 weeks agoWed Aug 28 2024 07:22:36
Checking out Time: 2 minutes
The Open Network (TON) experienced considerable interruption last night, with the blockchain grinding to a stop and stopping working to produce brand-new blocks for numerous hours. The problem has actually given that been put down to deal overload triggered by the appeal of the DOGS memecoin. Now back online, the failure of the blockchain is totally unassociated to the arrest of Telegram CEO Pavel Durov, however was so severe that exchanges momentarily suspended deposits and withdrawals.
Lot’s Troubled Times
HEAP, which began as a task connected with the messaging platform Telegram, has actually dealt with severe obstacles because its creation. After a record-breaking preliminary coin offering (ICO) for its native token, Gram, in 2018, the task was stopped by the Securities and Exchange Commission (SEC), which categorized the token offering as an unregistered security. Telegram ultimately withdrew from the job in 2020, leaving neighborhood designers to continue the network’s advancement, now led by Anatoliy Makosov and Kirill Emelianenko.
Heap’s ultimate launch has actually consulted with big success, most especially due to the viral video game Hamster Kombat, however it appears that its current launch of the DOGS memecoin was excessive for the platform to take.
Blockchain Took “A Little Break”
Tonscan had earlier highlighted the effect of the memecoin on network traffic, keeping in mind that “a couple of main services” were taking a “little break.” This high activity resulted in a decline in the network’s deals per 2nd (TPS), disappointing expectations and triggering considerable hold-ups:
Lot Blockchain is presently experiencing a disturbance in block production.
The concern is taking place due to the irregular load presently on TON. Numerous validators are not able to clean up the database of old deals, which has actually resulted in losing the agreement.
Lot Core has actually provided a call …
— TON (@ton_blockchain) August 28, 2024
This, in turn, resulted in no brand-new blocks being produced for over 3 hours, triggering the 2 most significant crypto exchanges worldwide, Binance and Bybit, to suspend deposits and withdrawals connected to TON. Bybit, in specific, mentioned the stop in block production as the factor for its choice.
The network has actually because resumed block production, enabling DOGS traders to purchase and offer to their heart’s material:
Load is now producing blocks usually!
We are back online. https://t.co/iXM6kF464T pic.twitter.com/FQ6eOt9fok
— TON (@ton_blockchain) August 28, 2024
In spite of the network problems, the rate of TON stayed reasonably steady on Tuesday,
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