The Ton blockchain team decided to halt the Tonano protocol because this protocol badly impacted the scalability of the network.
Telegram is a popular messaging & media sharing platform with over 800 million active users globally. In 2018, the Telegram team officially started to work on the Telegram open network blockchain (TON) which was further stopped by Telegram following the US regulatory body SEC’s order. Later an independent team started working on this project but under a different approach to avoid legal hurdles easily.
On Monday of this week, the TON blockchain team introduced Tonano, a service for creating blockchain inscriptions inspired by Bitcoin Ordinals. They used the TON20 token standard on the blockchain to implement Tonano.
Because of Tonano, Ton network saw a sudden increment in the network transaction volume and that led to high network congestion. According to a post by the community Telegram channel, the sudden 2 million increments in the transaction volume increased the network load by 61 times within half an hour and that further caused a significant downfall in the network speed.
Following all these issues, the Ton team decided to halt Ton’s inscription system Tonano, so that the network could easily recover itself from this situation.
In the last few hours, at the time of publishing this article, the Ton network showed significant activity and executed the majority of the transactions.
#TONBlockchain has automatically fixed the blockchain and can continue to move forward.
TON Blockchain has made significant strides in processing unprocessed transactions. In under 14 hours, the network handled 2,456,553 transactions.
As of 15:00 UTC on Dec 8, 2023,… pic.twitter.com/mgHVCOzvTZ
— Dr. Awesome Doge (@drawesomedoge) December 9, 2023
Following these network issues, an unknown person published a report on the Telegram blog to address the main issue and explained that the majority of the Ton validators were running on low specifications hardware and when the network load suddenly surged 50 to 100 times within 30 minutes then it promoted the downfall in the entire network speed.
All these developments with the Ton blockchain caused a significant downfall for the Ton coin trade price. Over the last 7 days, the trade price of Ton coin only saw a downfall, despite the bull sentiments in the crypto market.
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