TON Blockchain Reaches 1 Bn Transactions: Reasons Behind it

TON Blockchain Hits 1 Billion Transactions After Hamster Kombat

What is TON Blockchain?

The Open Network (TON) is a decentralized Layer 1 smart contract platform initially developed by Telegram in 2018. Aimed at supporting both everyday and specialized financial applications, TON is integrated with Telegram, a messaging app boasting nearly 1 billion users worldwide. The blockchain's goal is to build an open and decentralized internet, leveraging Telegram's extensive user base to promote cryptocurrency adoption. With its deep integration into the messaging app, TON aspires to become a “SuperApp” with Web3 capabilities, akin to WeChat’s success in China.

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TON Blockchain Reaches 1 Billion Transactions

In a noteworthy development, the TON blockchain has recently surpassed the milestone of 1 billion transactions. This rapid expansion highlights the platform's growing impact within the Web3 ecosystem, particularly in the realms of Tap-to-Earn games and decentralized finance (DeFi). The network’s development team marked this achievement, noting that half of these transactions occurred within the past three months. This surge in activity underscores TON’s increasing popularity and the broader adoption of its ecosystem by users globally.

How TON Blockchain Reached 1 Billion Transactions

Several key factors have fueled TON's impressive growth in transaction volume. Central to this surge has been the success of Tap-to-Earn games such as Hamster Kombat and Rocky Rabbit. Accessible through Telegram, these games offer token rewards, driving higher user engagement and transaction volume on the network. The enthusiasm surrounding these games, combined with the integration of USDT (a stablecoin pegged to the US dollar) for gasless transactions, has significantly amplified blockchain activity.

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Nevertheless, the path to 1 billion transactions has not been without hurdles. On August 28, the TON blockchain faced a six-hour outage due to the overwhelming buzz around the DOGS memecoin airdrop. Announced a day prior, DOGS quickly gained popularity and was listed on major exchanges like Binance and OKX. The resulting frenzy led to a sharp increase in network activity, which overwhelmed validators and temporarily disrupted transaction processing.

Despite this temporary setback, TON has rapidly regained its footing. With approximately 280,000 daily active users and an average of 800,000 transactions per day, the network has firmly established itself as a significant player in the blockchain sector. The recent launch of the W5 smart wallet standard, which supports gasless transactions, further enhances its role in driving widespread crypto adoption through Telegram’s extensive user base. As TON continues to advance, its journey towards becoming a cornerstone of the Web3 ecosystem is well underway.

Source: coingabbar

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Writer @Elena

Elena is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

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