DOGS Meme Coin Gains Traction; TON Faces Disruption in Block Production

• The TON network is reportedly experiencing a disruption in block production.
• Reports reveal that the disruption was triggered by the overloaded DOGS transactions.
• The blockchain hasn’t seen new validated transactions or block productions over the last few hours.

The Telegram Open Network (TON) reported a disruption in block production. The platform attributed the issue to an “abnormal load” on the TON blockchain. Emphasizing the root cause, the TON stated that the blockchain is losing consensus due to an overloaded database of validators’ old transactions.

Tonk Inu, a community platform built on TON, brought attention to the platform’s unusual halt, which lasted for over three hours. The platform revealed that the blockchain hadn’t processed any new validated transactions or block productions for several hours. Tonk Inu also suggested a possible link between TON’s current issue and the launch of its new meme coin, DOGS.

DOGS is a Telegram-launched meme coin inspired by Spotty, a character created by Telegram Co-Founder Pavel Durov. The meme coin quickly gained popularity, amassing over 15 million members in its Telegram channel.

As of press time, the DOGS meme coin is valued at $0.0012, marking a 4.8% dip in the last 24 hours. CoinMarketCap data revealed that the meme coin saw a remarkable trading volume of $1.7 billion and a market cap of $891 million in the first 10 hours of its launch.

These reports and the TON blockchain’s statement confirm that the platform faced disruption due to DOGS transactions. The issue comes on the heels of the TON Society’s rebrand following Durov’s arrest. The community introduced the “Resistance Dog” as the network symbol, signifying the community’s objection to Durov’s arrest.

To restore consensus, the TON Core issued a call to validators at 4:00 a.m. UTC today. The platform assured its smooth functioning, highlighting its 369 verification nodes and more than 580 million TONs being staked.