TL;DR
- The Open Network (TON) blockchain has surpassed 1.02 billion transactions, despite recent outages related to an airdrop.
- Activity on The Open Network has grown exponentially, with half of the transactions occurring in the last three months, driven by the DOGS airdrop.
- Recent network outages were caused by high demand, with DOGS accounting for up to 35% of transactions in some blocks.
The Open Network (TON) blockchain, linked to Telegram, has recently surpassed 1.02 billion total transactions, according to data from TON Scan. This significant milestone comes despite the network experiencing two major outages related to an airdrop.
TON’s transaction volume has shown accelerated growth. Approximately half of the transactions were recorded in the past three months. This expansion was largely driven by the DOGS memecoin airdrop, which has greatly increased both daily activity and the number of active users on the platform.
Between August 27 and 29, the network processed 20 million transactions, with over 30% of these being DOGS transactions. The surge in activity led to a rise in transaction fees to levels not seen in six months and likely resulted in the highest number of active users in a single day.
TON and Telegram Could Replicate WeChat’s Success
However, the high demand also caused issues on the network. The outages were due to overload in transaction processing and consensus, affecting network stability. During peak activity, DOGS transactions represented up to 35% of the total in some blocks, highlighting the difficulties in managing such a high load.
Regarding recent developments within the platform, the introduction of the W5 smart wallet standard facilitates gasless transactions on the TON blockchain using USDT for fees. Additionally, in May, Pantera Capital invested in the network to support its widespread adoption through Telegram’s user base.
Currently, TON’s network has approximately 280,000 daily active users and processes an average of 800,000 transactions per day. A recent report by Bybit suggested that integration with Telegram could enable it to replicate WeChat’s success and become a “SuperApp” with Web3 capabilities..
