TON Blockchain Freezes as Binance and Bybit Suspend Trades
Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.
The Open Network (TON) blockchain ceased validating new transactions and failed to generate a new block for over six hours on Wednesday.
The team acknowledged the disruption in an X post, attributing it to an unusually high load affecting the network.
“Several validators are unable to clean the database of old transactions, which has led to losing the consensus,” the team said.
The network asked validators to restart at 0400 UTC on Wednesday to restore operations, as long as enough validators participate.
TON Blockchain is currently experiencing a disruption in block production.
The issue is occurring due to the abnormal load currently on TON. Several validators are unable to clean the database of old transactions, which has led to losing the consensus.
TON Core has issued a call…
Meanwhile, TON-based community platform Tonk Inu posted on X that market excitement over the newly launched DOGS memecoin appears to have caused a spike in activity.
TON last dropped 2.4% on Wednesday to around $5.32.
According to a TON network tracker, the most recent transactions were confirmed over six hours ago. They were recorded in block 45341899. After that, the network ceased generating new blocks.
Blockchains process transactions within blocks. However, when new blocks stop being created, transactions go unconfirmed and unsettled. As a result, all financial or data transactions dependent on the blockchain halt. This causes significant delays or disruptions in services that require prompt transaction processing.
Two crypto exchanges have reacted, suspending trading activities on the TON network. Bybit announced on
Read more on cryptonews.com
