Following two major failures in 36 hours, the Open Network (TON) is back up and running fully. Both of these were caused by the high demand for DOGS, a new cryptocurrencies. The network went down for the first time on August 27 at about 11 p.m. UTC. Block creation stopped for six hours, and it started up again around 5:30 a.m. UTC the next day. However, the network had another problem that night at 7:17 PM UTC that lasted for just over six hours. The TON Community said that the network was back to normal around 1:00 AM UTC on August 29. They also promised users that transfers and donations would be processed in the next few days.
The problems were blamed on a lot of people using the network at once after DOGS was released. DOGS is a memecoin that was made to look like Pavel Durov’s dog Spotty, who was recently arrested in France. It was promoted as the “most Telegram native” memecoin. DOGS made a big splash soon after it launched on August 27. In its first 10 hours, it generated over $1.7 billion in trades. In less than two months, the official DOGS Telegram group has gained almost 17 million followers, which is a lot of people.
Even though the network is back up and running, Toncoin, the original cryptocurrency of the TON blockchain, has been very unstable. The value of the coin went up by 8% after the network was restored, but it has dropped by 17% in the last week, mostly because of Durov’s arrest and how it affected the market.
