Toncoin (TON), the native cryptocurrency of the TON blockchain, has resumed block production after an almost six-hour interruption caused by an unexpected spike in network activity.
When a blockchain stops producing blocks for a prolonged period, it raises concerns about the network’s stability. Such disruptions can potentially create security vulnerabilities and delay transactions. While these incidents are rare, they can happen during periods of intense network usage. In the case of TON, the recent surge in transactions was likely triggered by an airdrop of the DOGS memecoin. The token’s sudden popularity overwhelmed the network, resulting in a lower-than-expected transactions per second (TPS) rate.
A similar situation occurred with Solana in February, when its blockchain ceased block production for over five hours, causing a sharp sell-off of its native token, SOL.
Bybit, a cryptocurrency exchange, announced that it was temporarily halting TON withdrawals and deposits due to the blockchain’s instability, as reported by Wu Blockchain.
Additionally, the recent arrest of Telegram CEO Pavel Durov in France led to a sharp decline in TON’s price, even though Telegram and TON are distinct entities that are frequently used together.
Interestingly, before the block production stoppage, TON’s price had been rising over the past 24 hours, contrary to the broader market trend where other major cryptocurrencies were down by 4% or more.
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