The Open Community (TON), a third-party blockchain protocol built-in into Telegram, has resumed operations after experiencing two important outages inside a span of 36 hours.
On August 29, at 1:37 AM UTC, the TON Group introduced by way of their official Telegram channel that the community restored companies after going offline at 7:19 PM UTC on August 28.
“TON community is totally operational!” the TON Group confirmed, including that TON-based asset withdrawals and deposits can be processed within the coming hours and days.
Do you know?
Need to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer movies each week!
The primary outage occurred at 11:00 PM UTC on August 27, halting block manufacturing for about six hours. The community was restored by 5:30 AM UTC on August 28 however went down once more simply over 12 hours later. In complete, the TON community skilled greater than 12 hours of downtime over the previous day and a half.
The TON Group attributed the outages to a sudden surge in community visitors, pushed by the launch of the brand new TON-based memecoin referred to as Canines (DOGS). The token was impressed by Spotty, a mascot primarily based on the pet canine of Pavel Durov, the founder and CEO of Telegram.
The buying and selling quantity of the token surpassed $2 billion in lower than a day, inflicting huge congestion on TON.
The outages have additionally impacted Toncoin, TON’s native token, as its worth has dropped by 14.25% over the previous week.
This lower was additional influenced by Durov’s arrest in France on August 24, who has now been charged with a number of crimes associated to his function at Telegram and launched on bail.
As TON works to stabilize its operations, the neighborhood will probably be eager to see how the community handles related challenges sooner or later.
Gode is a Web3 Market Analyst who researches crucial trade occasions and interprets how they have an effect on the broader Web3 area. Her formal training in media tradition & digital rhetoric permits her to make use of a methodical strategy to evaluating essential Web3 information knowledge, together with large-scale occasions and the broader social sentiment throughout the ecosystem.Gode is a mutilingual skilled, having studied in a number of universities all throughout Europe. This permits her to have a one-of-a-kind alternative to investigate Web3 social sentiments spanning totally different cultures and languages and, in flip, develop a a lot deeper understanding of how the Web3 area is rising inside totally different communities. With the remainder of her workforce, Gode works to determine essential crypto information patterns and supply unbiased and data-driven data.Gode’s passions embrace working and speaking with folks, and when she’s not researching Web3 information, she spends her time touring and watching true crime documentaries.
