TON Blockchain Network Reaches 1 Billion Transactions Thanks To DOGS

DoGS memecoin from the viral TON network. (Photo; Doc. CryptoTimes)

JAKARTA - The Open Network (TON) blockchain network, which is affiliated with Telegram's instant messaging app, has recorded more than 1 billion transactions. This achievement was revealed through the TON API data analyzed by the CryptoQuant community, Maartunn. This spike in transactions occurred just days after the network experienced two major disruptions due to the DOGS airdrop token that triggered a spike in activity on the platform.

Currently, the volume of TON transactions has exceeded 1.02 billion. This shows the importance of TONS in the global blockchain ecosystem. Even more astonishing, half of these transactions have occurred in the last three months, which shows rapid growth and increased user involvement in this network.

This significant growth is driven by a strategic partnership with Telegram, an application with nearly one billion users worldwide. Thanks to this integration, TON has managed to attract around 280,000 daily active users and process an average of 800,000 transactions per day, making it one of the highest adoption blockchain networks.

In a recent report, the crypto exchange Bybit stated that the integration between TON and Telegram has the potential to emulate WeChat's success and become the next SuperApp in the world, with the additional innovative Web3 capabilities.

According to a CryptoSlate report citing data from CryptoQuant, the last two disruptions to the TON network occurred as a result of a major spike in demand generated by the DOGS airdrop token. This spike saw TONS process about 20 million transactions in just three days, from 27 to 29 August.

During this period, transactions related to DOGS accounted for more than 30% of the total transactions on the network. This airdrop also caused the average transaction cost on the TON network to soar to its highest level in the last six months, according to data from Tonstat.

Ian Wittkopp, head of TON Ventures, stated that the DOGS airdrop token likely causes the day with the highest number of active users in TON history. This very high network activity makes it difficult for some validators to clear old transaction data from the database, which then causes a loss of consensus among the validators. As a result, the new transaction process was disrupted and the blockchain network had a problem.