Toncoin (TON) Network Outage Brings Block Production To Halt

Panic is mounting among Dogs (DOGS) airdrop claimers as the Toncoin (TON) blockchain stopped producing blocks for nearly six hours, leading to transaction delays.

Dogs (DOGS) airdrop claimants faced panic as the Toncoin (TON) blockchain encountered an issue, halting block production for six hours and delaying airdrop transactions. This incident highlights the challenges faced by blockchains during periods of high network activity.

Meanwhile, ETFSwap (ETFS) has taken measures to strengthen its platform's network team in preparation for handling future network issues and ensuring a stable trading experience for its users.

Toncoin Network Outage Halts Block Production

On August 26th, Dogs (DOGS) meme coin airdropped its tokens to participants on Telegram. This highly anticipated event generated a massive surge in network traffic, leading to an outage on the Toncoin blockchain.

For nearly six hours, the Toncoin blockchain stopped producing new blocks, preventing Dogs (DOGS) airdrop users from claiming their tokens.

An announcement from the official Toncoin blockchain on X (formerly Twitter) detailed the situation, explaining that several validators encountered difficulties handling the abnormal load, failing to clear old data from the database and leading to a loss of consensus.

While a block production halt is an uncommon occurrence, it can significantly impact a chain's network, potentially exposing it to security vulnerabilities, delayed transactions, and loss of confidence in the network's stability—similar to Solana's (SOL) network experience a few months ago.

According to a post by Wu Blockchain, Toncoin's network instability prompted Bybit, a cryptocurrency exchange, to announce the temporary suspension of withdrawals and deposits.

Recent TradingView data showed a rise in Toncoin's price despite the market downturn and network outage.

ETFSwap: A Decentralized and Secure Trading Platform

ETFSwap (ETFS) operates a decentralized platform for trading tokenized ETFs, eliminating intermediaries like banking institutions and enabling peer-to-peer transactions. However, institutional investors may remain hesitant due to concerns regarding the safety of decentralized exchanges.

ETFSwap addresses these concerns by encrypting all data and communications end-to-end to protect user information. Additionally, the platform utilizes advanced cryptographic techniques to prevent tracing transactions, ensuring the anonymity of transaction details and user identities.

ETFSwap also employs decentralized governance, allowing users to participate in shaping the platform's future through voting rights, reducing the potential for manipulation or corruption. Being decentralized also enables users to influence ETFSwap's price delivery for greater increments.

Unlike the Toncoin blockchain, ETFSwap can handle a high volume of transactions without compromising network stability. With decentralized liquidity pools, transactions are processed almost instantly, and users are rewarded for their contributions to the liquidity pools.

To facilitate investors' trading activities, ETFSwap's decentralized infrastructure enables the tokenization of assets, allowing users to trade and swap assets securely and cost-efficiently across different markets. These tokenized ETFs are secured by blockchain technology, ensuring their integrity and protecting them from manipulation.

Further reassuring investors of the platform's commitment to security, ETFSwap complies with relevant regulations to ensure both security and legal

The above is the detailed content of Toncoin (TON) Network Outage Brings Block Production To Halt. For more information, please follow other related articles on the PHP Chinese website!