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Home»ADOPTION NEWS»As activity surges in Ordinals-inspired protocols, disruptions on the TON blockchain slow down.
ADOPTION NEWS

As activity surges in Ordinals-inspired protocols, disruptions on the TON blockchain slow down.

By Crypto FlexsDecember 8, 20233 Mins Read
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As activity surges in Ordinals-inspired protocols, disruptions on the TON blockchain slow down.
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open network ( ton

+0.14%
) blockchain Transaction processing suffered lengthy delays earlier this week following the introduction of the Bitcoin Ordinals-inspired protocol, which saw a surge in activity.

According to messages from TON developers and Telegram users, the problem started on Tuesday. As of Thursday afternoon, more than 2.5 million transactions were reportedly pending. Data from dTON A bot that monitors blockchain status.

The speed of the blockchain has fallen to less than 1 transaction per second. dTON. This is just a fraction of the TON’s highest speed known to have been recorded around 2000. 100,000TPS During ‘public stress test’ in early November.

The congestion was so severe that Wallet and Tonkeeper, the most popular wallets for the TON cryptocurrency, temporarily suspended their services.

“Network usage increased 61x in just 30 minutes, generating over 2 million transactions,” says one company. post On the TON community Telegram channel with over 1 million subscribers.

TON ordinal

Congestion since launch Tonano, a service for writing blockchain inscriptions inspired by Bitcoin Ordinals and using the TON20 token standard on the TON blockchain. Tonano was released on Monday but had to stop minting on Thursday. said At X.

A technical report published anonymously on the Telegraph blogging platform on Thursday attributed the congestion to “validator nodes running on weak hardware.”

“These validators rent hardware for low loads with no provision for load increases. For the past few months, the network has been running at low loads, so this hasn’t been an issue. As soon as the load increases by 50-100x within 30 minutes, they verify “They started slowing down the entire network with them.” post A patch has been issued to fix the issue, he said, adding that harsher penalties will be introduced for late validators in the future.

The inscriptions and how they flooded the blockchain with data controversial topic In the Bitcoin community where this format was first introduced. Recently, this format was also introduced on the Polygon blockchain. Trading volume to surge However, it did not stop blockchain.

Telegram’s Blessing

The TON blockchain began as a project led by the team at Telegram, the cryptocurrency’s favorite messaging app. The white paper was written by Nikolay Durov, brother of Telegram founder and CEO Pavel Durov.

The project raised $1.7 billion through a private token sale in 2018, but failed. be sued He was investigated by the Securities and Exchange Commission for allegedly selling unregistered securities. Telegram eventually reached a settlement with the SEC, and in May 2020 the company officially abandoned project.

The project’s developer community and Telegram’s former technology partner, TON Labs, picked up this code and developed two competing projects: Toncoin (now TON) and Free TON (now Everscale).

Last September, Telegram officially launched approval TON has built a coin wallet into its messenger app interface for non-US users.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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