The Open Network (TON), originally developed by the Durov brothers, experienced a significant disruption on Tuesday evening, with the network ceasing to produce new blocks for over four hours. This issue, reported by blockchain explorer Tonscan, was attributed to an "abnormal load," causing several validators to lose consensus due to difficulties in clearing old transactions.
Validators Scramble to Restore Network
In response, validators have been working to restart their nodes following instructions from TON Core, the chain's development team. The development team has called on all validators to reestablish network consensus as quickly as possible. As a result of this disruption, major exchanges like Binance and Bybit have suspended all deposits and withdrawals related to the TON network.
TON’s Connection to Telegram
TON, which was initially associated with Telegram before the project was halted by the U.S. Securities and Exchange Commission (SEC) in 2020, has been managed by community developers since Telegram's withdrawal. Despite recent efforts by Telegram to re-engage with the network, such as integrating TON into its ad revenue system, the network's native token, Toncoin (TON), has seen a price drop of over 20% since Telegram CEO Pavel Durov’s arrest in France on related charges.
Read more at Decrypt.
