August 28, 2024 at 15:32 GMTModified date: August 28, 2024 at 15:32 GMT
August 28, 2024 at 15:32 GMT

TON blockchain down for three hours due to memecoin overload

The timing of this outage is interesting because it came shortly after the arrest of Pavel Durov, one of TON’s co-founders, in France.

The Open Network (TON) recently experienced a significant outage that lasted for over three hours.

During this time, the network was unable to process new transactions or produce new blocks, which are essential components of its operation. 

The disruption began on 28 August, and it quickly raised concerns among users and experts alike.

The cause of the outage was linked to the launch of a new memecoin called DOGS, which generated a lot of excitement in the cryptocurrency community. 

The TON-based platform, Tonk Inu, reported that the network was overwhelmed by the sudden surge in activity caused by the DOGS memecoin. 

This high level of activity led to what experts are calling a “network overload”, where the system could not handle the sheer volume of transactions.

TON Foundation member Justin explained that the network’s validators, which are responsible for maintaining the blockchain’s operations, were unable to keep up with the demand. 

As a result, they lost consensus, meaning they could no longer agree on the state of the network. To fix this issue, validators were instructed to restart the network at 4:00 UTC, which helped restore normal operations.

This incident has raised serious questions about TON’s ability to handle large amounts of traffic, especially as blockchain technology becomes more widely used. 

A continuous block production is crucial for the network to function smoothly, and any interruption can lead to delays and security risks.

Outage linked to DOGS memecoin

The root of the problem appears to be the launch of the DOGS memecoin, which began trading on major exchanges like Binance and OKX on 26 August. 

The memecoin’s launch included an airdrop, where free DOGS tokens were distributed to many users. This event led to an enormous increase in network activity, which overwhelmed TON’s infrastructure.

Justin explained that the network’s “garbage collection” process, which helps clean up and manage data, became overloaded. 

This caused many of the network’s validators to go offline, as they couldn’t keep up with the increased demand. As a result, the network lost consensus, and transactions were unable to be processed.

To protect their users, major cryptocurrency exchanges such as ByBit and Binance temporarily halted all deposits and withdrawals of TON during the outage. 

This was done to ensure that users’ transactions would not be affected by the network’s instability.

Despite the challenges, Toncoin ($TON), the native token of the network, remained relatively stable in value. 

However, the community’s reaction has been mixed, with many users expressing concern about TON’s ability to handle similar events in the future.

Blockchain expert, Mikko Ohtamaa, pointed out that during the DOGS airdrop, TON was only able to process a maximum of 280 transactions per second (TPS). 

This is far below the 55,000 TPS that the network had previously claimed it could handle. This discrepancy has led to further doubts about the network’s capacity to manage large-scale events.

The bigger picture

After more than seven hours, the TON network was able to resume normal operations, but the incident exposed significant weaknesses in its infrastructure. 

The timing of this outage is interesting because it came shortly after the arrest of Pavel Durov, one of TON’s co-founders, in France. This has increased the scrutiny on TON and its ability to operate effectively.

The outage highlights the importance of having a strong and scalable infrastructure in place for blockchain networks. 

As these technologies become more integrated into everyday digital activities, the ability to handle unexpected surges in traffic is essential for maintaining trust and stability.

TON was launched in 2018 by Pavel Durov and his brother Nikolai. Despite facing legal challenges from the US Securities and Exchange Commission (SEC), TON has continued to evolve. 

One of its key developments has been the integration of cryptocurrency payments into the Telegram messaging app, including a feature called “Stars”, which allows users to earn and spend digital currency.

The DOGS memecoin, which was launched on 27 August, saw a trading volume of $1.7 billion within the first 10 hours and reached a peak market capitalisation of $891 million. However, the price of the token has since fallen to around $0.0013.

The memecoin’s launch coincided with an official rebranding by TON Society on 26 August, in support of Pavel Durov after his arrest. 

The network’s logo and profile pictures were updated to feature the “Resistance Dog”, a symbol of free speech and digital resistance.

Since Durov’s arrest, Toncoin’s value has dropped by 24%, and it is currently trading at $5.22. 

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