TON Blockchain Slashes Transaction Fees by 2.5 Times

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The TON blockchain team at The Open Network has revealed a reduction of transaction fees by a factor of 2.5, enabling users to save significantly when transacting on their platform.

Exciting news: Fees on the TON network have been decreased by a factor of 2.5 in all areas, following $TON’s recent expansion! In order to improve TON’s functionality and make it more inviting for users, these fee reductions represent TON’s persistent commitment to advancement and increased engagement within the network.— TON 💎 (@ton_blockchain) April 24, 2024

The cost of Toncoin transactions can now change depending on their value in dollars. At the start, each transaction costs $0.06, but after that, every additional Toncoin transaction will only cost $0.04. USDT transactions have enjoyed reduced fees since April 16th.

Developers aim to add support for widely-used C++ smart contracts directly into nodes, which could reduce resource consumption and fees. However, following these enhancements, Toncoin’s value dropped by 11% to $5.50 from its previous peak of $7.65 on April 11th.

The decline persisted, shedding almost 10% during the announcement of backing for USDT and the unveiling of forthcoming elements such as gas-free transactions, the upcoming Wallet 5.0 enhancements, and Teleport cross-chain technology.

Rumors about reduced user costs surfaced on April 16, adding to the buzz around TON’s developments.

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2024-04-25 06:44