On 28 August 2024, The Open Network (TON) blockchain faced significant problems that led to a halt in block production for more than six hours. This happened amid increased user activity after the listing of the DOGS memcoin on major cryptocurrency exchanges.
The main reasons for the TON network failure
Problems in the TON blockchain arose due to an extremely large number of transactions, which led to a loss of consensus in the network. The TON developers asked the validators to restart the hardware to restore the system.
The project team later reported that the network had stabilised and block production had resumed. According to them, the users’ crypto assets were not affected, and the system is back to normal.
Increased activity on the network
The increased activity in the TON network was caused by the listing of the DOGS memcoin on a number of leading crypto exchanges, including Binance, Bybit, OKX, KuCoin, and Gate.io. As a result, the network received a huge volume of transactions that it could not handle.
The main cryptocurrency exchanges on which DOGS was listed:
Binance
Bybit
OKX
KuCoin
Gate.io
Criticism of TON’s bandwidth
Mikko Ohtamaa, co-founder of the Trading Protocol project, pointed out that the TON network’s throughput was significantly lower than expected. According to him, the network was able to process a maximum of 280 transactions per second (TPS), which is significantly different from the previously announced 55,000 TPS.
Comparison of declared and actual throughput
The developers of TON promised support for up to 55,000 transactions per second, but the actual result was much more modest – only 280 TPS. This raised concerns about the blockchain’s capabilities during peak loads.
The TON network outage highlighted the importance of testing blockchain platforms during peak loads. The increased user activity after the listing of the DOGS memcoin revealed weaknesses in the TON infrastructure that need further improvement and optimisation. The project team is already working to restore stability and implement the necessary changes.
Source of information and photo: ton_blockchain