The outages on August 27 and 28, ending around 1 a.m. UTC on August 29, were due to increased network activity from the new memecoin, DOGS on the TON network.
After experiencing a second significant outage in only 36 hours, The Open Network (TON) has successfully returned to online service.
Following the network’s outage at 7:17 p.m. on August 28, the official TON Community announced via the official TON Telegram channel that the network had returned to its usual operation at approximately 1 a.m. UTC on August 29.
The Community chat announced the complete operationalization of the TON network. They also promised to credit withdrawals and deposits to TON wallets in the coming hours and days.
In the most recent downtime, which lasted for slightly more than six hours, they once again blamed the outage on an increase in network activity that was caused by the creation of a new memecoin based on TON called Dogs (DOGS).
They went offline for the first time on August 27 at approximately 11 p.m. UTC, and it ceased producing blocks for a period of six hours before coming back up at approximately 5:30 a.m. UTC on May 28.
In the beginning, market commentators and members of the TON Community attributed this first downtime to the DOGS memecoin. Their Official channels later confirmed this, following the network’s second outage. Over the past 36 hours, the network has been out for a total of more than 12 hours.
Officially introduced in July 2024 and released on August 27, DOGS is a new memecoin. Billed as the “most Telegram-native memecoin,” it operates on the TON network.
Spotty, a mascot that draws its likeness from the pet dog of Telegram founder and CEO Pavel Durov, who was jailed in France on August 24th, served as the motivating factor behind the creation of the meme crypto.
TON has experienced tremendous congestion as a result of DOGS’s debut, which has resulted in the token accumulating more than $1.7 billion in trade volume within the first ten hours of going live.
In a period of less than two months, the official Dogs channel on Telegram has attracted approximately 17 million users. This is a significant increase from the initial coin proposal.T
ON is the third-party blockchain system that the Telegram messaging platform has integrated into its service. The platform has declared that it will maintain its normal operations without any disruptions during Durov’s detention.
Since the network came back online, the price of Toncoin has increased by 8%, trading at $5.57 today, according to data provided by CoinGecko.
Despite rising on news of restored network functionality, Toncoin has experienced a 17% decline over the past week. Durov’s arrest has hammered the price of the token.
