• Market Cap: $3,125,695,023,803.05
  • 24h Vol: $183,229,140,901.55
  • BTC Dominance: 58.56%
  • CONTACT
  • MARKETCAP
Daily Cryptex - Crypto News, Articles and Insights
  • Home
  • Crypto Prices
  • Crypto News
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Altcoins
    • Stablecoins News
  • Exchange News
    • Binance News
    • Bitget News
    • ByBit News
    • Coinbase News
    • FTX News
    • OKX News
  • DeFi News
  • Metaverse News
  • NFTs News
  • Learn
Font ResizerAa
Daily Cryptex - Crypto News, Articles and InsightsDaily Cryptex - Crypto News, Articles and Insights
  • Home
  • Crypto News
  • Learn
Search
  • Home
  • Crypto News
    • Altcoins
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Stablecoins News
  • Exchange News
    • Binance News
    • Bitget News
    • ByBit News
    • Coinbase News
    • FTX News
    • OKX News
  • Decentralized Finance (DeFI) News
  • Metaverse News
  • NFTs News
Follow US
© Daily Cryptex. All Rights Reserved.
Daily Cryptex - Crypto News, Articles and Insights > Crypto News > TON Blockchain Restores Services After DOGS-Induced Outage
Crypto NewsDecentralized Finance (DeFI) News

TON Blockchain Restores Services After DOGS-Induced Outage

Burhaan Al Amin
Last updated: August 28, 2024 6:21 am
Burhaan Al Amin Published August 28, 2024
Share

Telegram-backed The Open Network came to a standstill on Aug. 28 as block production halted due to network overload caused by the hype around the new memecoin DOGS. Data from TON Explorer revealed that no new blocks had been created for close to seven hours, with block 39987437 being the last one mined before the outage. However, at the time of writing, block production had resumed.

The TON-based memecoin platform Tonk Inu first flagged the incident, stating that the launch of DOGS had resulted in heavy traffic, likely leading to the outage. The official X account for the TON blockchain acknowledged the issue, citing "abnormal load," highlighting that roughly 20 million transactions had been executed on the network over the past 48 hours.

“Several validators are unable to clean the database of old transactions, which has led to losing the consensus.”

Due to the increased load, TON validator nodes reportedly lost consensus. TON Core, the network’s development team, had urged validators to restart their nodes at 4:00 AM UTC. This coordinated restart was aimed at resetting the validators’ processes, clearing the backlog of tasks, and returning them to synchronization.

Meanwhile, the TON team has assured the community that all assets will remain safe and pending transactions will be processed.

Prominent cryptocurrency exchanges like Binance, Bybit, and OKX suspended transactions to and from the TON blockchain following the outage.

While it hasn’t been officially confirmed whether the hype around DOGS (DOGS) had led to the outage, TON community member Justin pinned the blame on the new memecoin.

DOGS was launched on Aug. 26 and raked in over $1.7 billion in trading volume within the first ten hours. Blockchain explorer Tonscan noted the following day that the memecoin had generated “quite a lot of traffic,” resulting in some “central services” being temporarily suspended at the time.

You Might Also Like

Neiro Meme Coin Drops 60% After Vitalik Buterin’s Sell-Off

Binance May Sell Gopax Stake to Korean Cloud Giant Megazone

Trump Endorses Family Crypto Venture ‘The Defiant Ones’

Exploring the Structure and Performance of New Ethereum ETFs

Ethereum Whales Active as Price Surges by 5%

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Reddit Telegram Threads Email Copy Link Print
Share
What do you think?
Love0
Sad0
Sleepy0
Surprise0
Angry0
Dead0
Previous Article Robinhood wallet adds support for Solana Robinhood Wallet Now Supports Solana Cryptocurrency
Next Article Bitcoin Funding Rate Indicates Possible Rebound Ahead
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Subscribe to our newslettern

Get Newest Articles Instantly!

Popular News
Are NFTs are stiil alive and will NFT.NYC be back in 2025? | Opinion - 1
Will NFT.NYC Return in 2025? The Future of NFTs Discussed
Is Polkadot the next FTX? $87M spending spree, racism claims, and user backlash - 1
Controversies Stir Polkadot: $87M Spree, Racism Claims, Backlash
How Blast gained the community's attention and why is it called a scam?
Community Questions Legitimacy of Popular App ‘Blast’

You Might Also Like

Ethereum ETFs bring substantial benefits, yet challenges remain | Opinion
Crypto NewsEthereum (ETH)

Ethereum ETFs Offer Promises but Face Significant Hurdles

By Burhaan Al Amin July 25, 2024
Bitcoin is the solution to an inevitable hyper-financialization | Opinion
Bitcoin (BTC)Crypto News

Opinion: Bitcoin as a Solution to Hyper-Financialization

By Burhaan Al Amin August 1, 2024

Binance Urges U.S. Action Amid Gambaryan’s 6-Month Detention

By Burhaan Al Amin August 27, 2024

Bitwise Acquires Osprey Funds’ Bitcoin Trust Assets

By Burhaan Al Amin August 27, 2024

Follow Us on Socials

We use social media to react to breaking news, update supporters and share information

Facebook X-twitter Youtube Instagram Pinterest Threads Telegram
Daily Cryptex - Crypto News, Articles and Insights

Your Source for the Latest Crypto News, Market Analysis, and Expert Insights. Stay Informed Daily!

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Info

Terms

  • About
  • Contact
  • Terms Of Service
  • Privacy Policy
  • Cookie Policy
  • Editorial Policy
  • GDPR Compliance
© Daily Cryptex. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?