Telegram’s TON blockchain hits 1 billion transactions after DOGS memecoin chaos
The Open Network (TON) has surpassed 1 billion transactions, reaching 1.02 billion, with half occurring in the last three months. This growth is attributed to its partnership with Telegram, resulting in approximately 280,000 daily active users and 800,000 daily transactions. Recent outages on the network were caused by a surge in demand from the DOGS memecoin airdrop, which led to 20 million transactions between August 27 and 29, with DOGS accounting for over 30% of total transactions. The increased activity caused transaction fees to rise to a six-month high and disrupted validators' ability to maintain consensus, resulting in network outages. Crypto exchange Bybit suggested that TON's integration with Telegram could lead to it becoming a SuperApp similar to WeChat.
