In a dramatic turn of events, the Telegram Open Network (TON) has experienced an unprecedented outage lasting over three hours, disrupting the blockchain community and raising significant concerns about the network’s scalability. The root cause? An unexpected surge in activity surrounding the launch of a new memecoin, DOGS.
Tonk Inu, a prominent community platform within the TON ecosystem, first reported the issue on X (formerly known as Twitter). According to the report, the network’s problems began on August 28, shortly after DOGS was launched on August 27. The memecoin quickly gained popularity, trading on major exchanges like Binance and OKX, and witnessed a staggering trading volume of $1.7 billion within the first ten hours. This frenzy pushed the DOGS market cap to a peak of $891 million, although the price has since corrected to around $0.0012, based on CoinMarketCap data.
The last confirmed transaction on the TON network was recorded in block 45341899. Since then, no new blocks have been generated, effectively bringing the network to a standstill. This network paralysis has raised alarms within the community, highlighting the risks of rapid memecoin hype overwhelming blockchain infrastructure.
Adding to the gravity of the situation, the TON Society recently underwent a rebranding effort on August 26, aligning itself with Telegram creator Pavel Durov, who was arrested in France. This rebrand introduced the “Resistance Dog” as the new symbol for the network, symbolizing Durov’s stand for free speech dating back to 2011. Following his arrest, the TON Society launched an “Open Letter Mini App” on Telegram, which has already amassed over 1.48 million signatures advocating for Durov’s release.
The outage has not only disrupted transactions but also led to the suspension of deposits and withdrawals on crypto exchanges like ByBit, which cited network instability as the reason. TON Foundation member Justin confirmed that the outage was due to a “network overload” from the high volume of DOGS transactions, causing validators to lose consensus. A coordinated effort to restore consensus among validators was planned for 4:00 UTC.
This incident serves as a stark reminder of the challenges that blockchain networks face during periods of intense activity. As memecoins like DOGS continue to capture the imagination of traders, the need for robust scalability measures becomes increasingly apparent. The TON network’s instability underscores the importance of preparing for sudden spikes in activity to maintain the integrity and reliability of blockchain ecosystems.
The price of TON’s native token has also suffered, dropping 24% since Durov’s arrest and currently trading at $5.22, down 1.7% for the day. This downturn reflects the broader uncertainty and concerns within the community about the future stability of the network.
In conclusion, while the memecoin craze can drive significant engagement and trading volume, it also exposes critical vulnerabilities in blockchain infrastructure. The TON network’s recent downtime is a call to action for developers to implement stronger, more scalable solutions capable of handling such unexpected surges in activity.
