Panic is mounting among Dogs (DOGS) airdrop claimers as the Toncoin (TON) blockchain stopped producing blocks for nearly six hours, leading to transaction delays. Borrowing a leaf from the incident, ETFSwap (ETFS), has reinforced its platform’s network team against future network issues.
Toncoin (TON) Network Outage Brings Block Production To Halt
On the 26th of August, Dogs (DOGS) meme coin issued an airdrop to its participants on Telegram. The widely anticipated event caused a surge in network traffic causing an outage on the Toncoin (TON) blockchain. For nearly six hours, the Toncoin (TON) blockchain stopped producing new blocks, preventing Dogs (DOGS) airdrop users from claiming their tokens.
An announcement issued by the official Toncoin (TON) blockchain account on X (formerly Twitter) details the situation facing Toncoin (TON). It explains that several validators are overwhelmed by the abnormal load, leading to failure in cleaning old data from the database and causing a loss of consensus.
While a block production halt is rare, its occurrence can lead to a loss of confidence in a chain’s network. The same thing happened to Solana’s (SOL) network a few months ago, when a high-traffic incident caused a block production halt for five hours. This resulted in the price of the token to drop.
According to a post by Wu Blockchain, Toncoin’s (TON) network instability has led Bybit, a cryptocurrency exchange, to announce that it is temporarily suspending withdrawals and deposits.
Recent TradingView data shows that the price of Toncoin (TON) has been rising despite the market downturn and the network outage. The situation with Toncoin (TON) highlights the pressing challenges of a halt in blockchain production. It can lead to security vulnerabilities, delayed transactions, and loss of confidence in the network, as has been highlighted.
ETFSwap (ETFS) Has A Trusted And Secured Platform
ETFSwap (ETFS) operates a decentralized platform for trading tokenized ETFs. As such, the platform eliminates the need for intermediaries, such as banking institutions, thereby ensuring peer-to-peer transactions. However, institutional investors may be skeptical about the safety of decentralized exchanges.
ETFSwap (ETFS) addresses the fears associated with decentralized platforms by ensuring all data and communications are encrypted end-to-end to protect user information. Moreover, the platform implements advanced cryptographic techniques to prevent tracing transactions, assuring the anonymity of transaction details and user identities.
ETFSwap (ETFS) empowers users to decide the platform’s future through decentralized governance. This provides users on the platform voting rights to reduce the risk of manipulation or corruption. Being decentralized, users on the platform can influence ETFSwap’s (ETFS) price delivery for more increases.
ETFSwap (ETFS) is designed to handle a large batch of transactions without compromising network stability, unlike the Toncoin (TON) blockchain. With the aid of decentralized liquidity pools, transactions can be processed almost immediately, and users on the platform are also incentivized with rewards.
To make trading easy for investors, ETFSwap’s (ETFS) decentralized infrastructure allows the tokenization of assets, allowing users to trade and swap assets securely and cost-effectively across different markets. These tokenized ETFs are secured by blockchain technology, which helps to ensure their integrity and security.
To further reassure investors of the platform’s commitment to security, ETFSwap (ETFS) complies with relevant regulations to ensure security and legal compliance in its decentralized platform. Furthermore, the platform’s team completed KYC verification by SolidProof, a smart contract security auditing firm. Also, the platform underwent thorough security audits by Cyberscope, a cybersecurity auditing firm.
Conclusion
While Toncoin’s (TON) network resolved its block production, investors diversified their interests by investing in its native coin. Over $3.4 million has been raised with 121 million tokens sold. To be a part of this revolutionary token, investors can take advantage of the 50% ongoing discount. Use the promo code “ETFS50”.
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