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 absolutely operational!” the TON Group confirmed, including that TON-based asset withdrawals and deposits can be processed within the coming hours and days.
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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 known as Canines (DOGS). The token was impressed by Spotty, a mascot based mostly 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 large congestion on TON.
The outages have additionally impacted Toncoin, TON’s native token, as its value 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 position at Telegram and launched on bail.
As TON works to stabilize its operations, the group will probably be eager to see how the community handles comparable challenges sooner or later.
Gode is a Web3 Market Analyst who researches a very powerful business occasions and interprets how they have an effect on the broader Web3 area. Her formal schooling in media tradition & digital rhetoric permits her to make use of a methodical method to evaluating important 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 group, Gode works to establish 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.
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