Developers of the TON blockchain made an announcement about decreasing transaction fees inside the network by 100%. (This means that the current fee for each transaction is now half of what it used to be, resulting in a total reduction of 50% per transaction and 100% overall.)
Based on the project team’s information, the cost of transactions will change depending on the US dollar value of the native token (in this case, Toncoin or TON). When the price is at $1 for TON, the fee for the initial transaction with Jettons would be approximately $0.06, while subsequent transactions would have a fee of around $0.04.
From April 16, you’ll save 0.012 TON on your first USDT transaction, and 0.0175 TON on each subsequent transaction instead of the regular fees of 0.032 TON and 0.0145 TON respectively.
In the upcoming node update, developers intend to add a feature that allows for the pre-compilation of smart contracts.
With popular smart contracts being written in C++, they can now be directly implemented into the node itself instead of requiring TVM execution. This change results in less resource usage and subsequently lower fees for those contracts.
TON announcement
After the announcement was made, the value of TON dropped by 2.4%, landing at $5.55. Since then, Toncoin’s price has been sliding downward, having reached its peak of $7.65 on April 11.
In the last seven days, the value of the coin has decreased by almost 10% contrasting recent statements from Telegram founder Pavel Durov at the Token2049 event in Dubai. Additionally, news about USDT stablecoin backing on the TON blockchain has surfaced.
Beginning on April 16, there were whispers circulating that the TON team intended to lessen user transaction fees. In the current year, TON is slated to roll out fee-free transactions, launch Wallet 5.0’s update, and cultivate new Teleport cross-chain technology.
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2024-04-24 21:27