Telegram’s TON blockchain has again stopped processing transactions after going offline for 7 hours on Tuesday. According to an official announcement from the Ton Network team, the disruption appears to be due to a heavy load attributed to DOGS token minting. The TON Core team is reportedly working on a solution.
For TON, a recent airdrop of the DOGS memecoin is the likely cause for the crash as the popularity of the token caused a surge in transactions. Some observers pointed out that the network struggled to catch up to meet demand, with its transactions per second (TPS) coming well under what was expected.
Blockchain failures like this aren’t uncommon but usually signal plenty of room for improvement. Telegram’s TON network has seen rapid growth over the past few months. Its native Toncoin (TON) cryptocurrency has reaped the benefits, surging into the top 10 cryptocurrencies by market cap in August. However, following the blockchain’s halting of transactions yesterday, TON did fall in price. The asset tumbled further today after the latest pause by 2%. Since Saturday, just four days ago, TON has dipped 16.5%.
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The Solana Network, despite its success in 2024, experienced a similar fall in February, with its own network failing to produce new blocks for several hours. This led to a drop in the price of its SOL token.
The Telegram TON Blockchain team says that investors’ crypto assets on the blockchain are safe and won’t be affected by the pause. They are actively working to get the blockchain back up and running.