The TON blockchain exceeds 1 billion transactions

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Open Network (TON), Telegram’s associated blockchain, has surpassed 1 billion total transactions according to data from TON Scan. This milestone comes less than a week after the network experienced two major outages related to a memecoin airdrop.

TON transaction volume has now exceeded 1.02 billion, with half of these transactions occurring in the last three months alone. This rapid growth shows the rapid increase in user engagement on the platform, which has increased its integration with Telegram’s nearly 1 billion global users.

Last month, TON Core and Tonkeeper introduced the W5 smart wallet standard, facilitating gasless transactions on the TON blockchain with USDT as transaction fees.

In early May, Pantera Capital invested in The Open Network to increase its potential for widespread cryptocurrency adoption through Telegram’s expanded user base.

The network currently sees around 280,000 daily active users and processes an average of 800,000 transactions per day. A recent report by cryptocurrency exchange Bybit suggested that Telegram’s TON integration could allow it to replicate WeChat’s success and become a “SuperApp” with Web3 capabilities.

However, TON recently faced challenges when the DOGS memecoin airdrop caused two network-related outages. Between August 27-29, TON processed 20 million transactions, with dogs representing over 30% of the activity. That surge pushed average transaction fees to a six-month high and likely led to TON’s biggest day of active users, according to Ian Wittkopp, head of TON Ventures.

The heavy activity overwhelmed some validators, disrupting transaction processing and consensus. Crypto analyst Maartun suggests that during peak periods, DOGS transactions comprised around 35% of all transactions in some blocks, with the network processing an average of 100 transactions (per subsequent block) in a few seconds.

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