Throughput on The Open Network (TON) has slowed to one transaction per second due to an outage caused by the popularity of its Ordinals counterpart.
According to messages developers and TON users in Telegram chat, problems began on December 5th. The blockchain overload was so severe that popular crypto wallets TON Wallet and Tonkeeper temporarily suspended operations.
By December 7, more than 2.5 million unconfirmed transactions were stuck in the pool.
The failure followed the launch of the service for creating “inscriptions” Tonano, which uses the TON-20 standard. After several days of unsatisfactory performance, the service also suspended operations.
IN anonymous report it is said that the cause of the overload is due to “validator nodes running on weak hardware.”
On October 31, TON set a world record by completing 104,715 transactions per second. According to the developers, the network is potentially capable of processing millions of transactions with a sufficient number of validators.
In November, Web3 games operator Animoca Brands announced a strategic investment in blockchain, becoming the largest validator on the network.
Later, the venture division of the KuCoin cryptocurrency exchange and the TON Foundation agreed to cooperate. The first party will provide an undisclosed amount in the form of a grant.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
