The Telegram Open Network (TON) experienced a significant disruption, remaining offline for over three hours as a surge in activity related to the newly launched memecoin DOGS overwhelmed the network’s capacity. During this period, no new transactions were validated, and block production came to a standstill.
The issue, which began on August 28, has been attributed to the overwhelming response to DOGS, a memecoin that has quickly garnered attention across the crypto community. The disruption was first reported by Tonk Inu, a community platform on TON, via X (formerly Twitter). They pointed to the massive hype surrounding DOGS as the primary cause of the network’s troubles.
TON Network Outage Triggered by DOGS Memecoin Surge
DOGS, which launched on August 27, saw a rapid increase in trading volume, reaching $1.7 billion within its first ten hours and peaking at a market cap of $891 million. Despite its initial success, DOGS has seen its price drop from a high of $0.0018 to approximately $0.0012, according to CoinMarketCap.
The last confirmed transaction on the TON network occurred in block 45341899, with no new blocks generated since the outage began. This has raised concerns among the TON community, particularly given the timing of the incident.
TON Network Stability Tested by Memecoin Frenzy
The network disruption coincides with a recent rebranding by the TON Society, which took place on August 26. This rebranding introduced the “Resistance Dog” as the new symbol for the network, a gesture of solidarity with Telegram’s creator, Pavel Durov, who was recently detained in France. Since Durov’s arrest, TON’s native token has experienced a 24% decline, currently trading at $5.22, down 1.7% for the day.
The incident underscores the vulnerabilities of blockchain networks when faced with sudden, intense bursts of activity, such as those driven by memecoin hype. The TON network’s outage highlights the critical need for enhanced scalability measures to accommodate rapid increases in demand and maintain stability in the face of unforeseen challenges.
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