The Open Network has achieved over one billion transactions, soaring despite recent challenges.
The network is averaging over 800K daily transactions and has over 280K daily active users.TON Blockchain Hits 1 Billion Transactions, Soars Despite Recent Outages
The milestone comes a few days after TON suffered two major outages due to massive demand for the DOGS token.
The Open Network (TON), a blockchain platform associated with the messenger app Telegram, has hit a milestone today by surpassing one billion transactions, showing the network’s resilience despite recent obstacles.
Data from TON Scan shows TON’s growing transaction volume. At the time of writing, the total number of transactions reached 1,038,536,342, with over 35 transactions per second (TPS).
DOGS Token Leads the Pack
TON averages over 800K transactions per day and has roughly 280K daily active users, making it one of the most used networks today. DOGS, a memecoin launched on the TON network in July of this year, is mainly responsible for this success.
Funny enough, DOGS is also the token that broke the TON blockchain twice. As CNA reported, DOGS was the reason why TON suffered two outages due to intense demand following its airdrop.
Between August 27 and 29, the network processed over 20 million transactions, with DOGS transactions comprising over 30% of this activity, overwhelming the network’s validators.
During peak periods, DOGS transactions accounted for over 35% of all transactions in some blocks, forcing the network to process an average of 100 transactions per ensuing block in a matter of seconds.
TON Gaining Traction
All in all, TON continues to grow and innovate despite the challenges. A few days ago, TON Core and Tonkeeper introduced the W5 smart wallet standard, which facilitates gasless transactions on the blockchain using USDT for transaction fees. This development aims to enhance user experience and reduce friction in the transaction process.TON Blockchain Hits 1 Billion Transactions, Soars Despite Recent Outages
In May, Pantera Capital, one of the largest crypto-focused VCs, announced a multi-million investment in the network. Its decision to invest in the network comes from the belief that TON could drive the next wave of adoption for mainstream users.
In Telegram-related news, Pavel Durov, its founder, was recently released after arrest. He awaits trial and was charged with conspiracy in crime and a bunch of other felonies. Interestingly, France’s president, Emmanuel Macron, said it’s the government’s duty to protect free speech (yes, he said that).
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