TON Blockchain Votes to Suspend Inactive Miners' Wallets

TON Community Decision

The Open Network (TON), a layer-1 blockchain originally developed by Telegram, recently held a significant community vote. Users and validators decided to suspend the wallets of inactive miners for a period of four years if these wallets have never processed an outgoing transaction. This move affects 1,081,389,416 Toncoin (TON), which was valued at approximately $2.58 billion at the time of the decision. This amount represents over 20% of the total TON tokens in circulation.

Validator Vote Outcome

The validator vote commenced on February 21, 2023, and was concluded swiftly in two rounds, eliminating the need for a third tie-breaker round. The TON Foundation had previously urged miners to demonstrate wallet activity by performing a transaction on the blockchain by December 17, 2022. Following this call, only 24 out of 195 inactive addresses showed activity. Consequently, the vote targeted the remaining 171 inactive addresses, which hold 1,081,389,416 TON collectively. This figure represents less than 0.009% of all wallets on the TON network.

Impact and Implications

The suspension of these wallets is poised to have a significant impact on the TON ecosystem. By suspending inactive wallets, the network aims to encourage miner engagement and ensure active participation. This decision also underscores the community's commitment to maintaining an active and dynamic blockchain environment. The four-year suspension period is designed to give miners ample time to reactivate their wallets and engage with the network.