TON Blockchain Reaches 1 Bn Transactions: Reasons Behind it
- TON block chain has reached 1 billion transactions despite two outages in past days.
- One of the primary drivers has been the success of Tap-to-Earn games like Hamster Kombat and Rocky Rabbit.
- With around 280,000 daily active users and an average of 800,000 transactions per day, TON is positioned as a significant player in the blockchain space.
TON Blockchain Reaches 1 Bn Transactions After Hamster Kombat
What is TON Blockchain?
The Open Network (TON) is a decentralized Layer 1 smart contract network originally created by Telegram in 2018. Designed for both routine and specialized financial applications, TON is integrated with Telegram, the popular messaging app with nearly 1 billion global users. The blockchain aims to create an open and decentralized internet, leveraging Telegram's vast user base to drive crypto adoption. With its deep integration into the messaging platform, TON is poised to become a “SuperApp” with Web3 capabilities, similar to what WeChat has achieved in China.
TON Blockchain Reached 1 Billion Transactions
In a remarkable achievement, the TON blockchain recently surpassed the milestone of 1 billion transactions. This rapid growth underscores the platform's expanding influence in the Web3 ecosystem, especially in the realm of Tap-to-Earn games and decentralized finance (DeFi). The TON network's development team celebrated this milestone, highlighting that half of these transactions occurred in just the last three months. This surge in activity reflects TON’s growing popularity and the increasing adoption of its ecosystem by users worldwide.
How TON Blockchain Reached 1 Billion Transactions
Several factors contributed to TON’s explosive growth in transaction volume. One of the primary drivers has been the success of Tap-to-Earn games like Hamster Kombat and Rocky Rabbit. These games, accessible through Telegram, offer token rewards to players, driving higher user engagement and transaction volume on the network. The excitement surrounding these games, combined with the integration of USDT (a stablecoin pegged to the US dollar) for gasless transactions, has significantly boosted activity on the blockchain.
However, the journey to 1 billion transactions was not without challenges. On August 28, the TON blockchain experienced a six-hour outage caused by the overwhelming hype surrounding the DOGS memecoin airdrop. Announced just a day before, DOGS quickly gained traction, being listed on major exchanges like Binance and OKX. The frenzy led to a massive spike in network activity, overwhelming validators and temporarily halting transaction processing.
Despite this setback, TON has continued to thrive, with the network quickly returning to normal operations. With around 280,000 daily active users and an average of 800,000 transactions per day, TON is positioned as a significant player in the blockchain space. The recent introduction of the W5 smart wallet standard, which facilitates gasless transactions, further cements its role in driving widespread crypto adoption through Telegram’s extensive user base. As TON continues to evolve, its journey toward becoming a cornerstone of the Web3 ecosystem is just beginning.
