Analyzing the Recent TON Vote
On February 22, 2023, a monumental decision was made by users and validators of The Open Network (TON), formerly a Telegram brainchild. With the flick of a digital thumb, inactive miners’ wallets were put on lockdown for the next four years. That’s right, if your wallet has been sitting in the digital dust and hasn’t seen any outgoing action, it’s taking a long-term vacation—and trust us, it’s not a tropical getaway!
The Numbers Game: TON in Suspense
The decision hit hard—1,081,389,416 Toncoin (TON) was suspended, which was no small chunk of change at around $2.58 billion at the time. This suspension accounted for over 20% of the total coins in circulation. To put it in perspective, that’s like forfeiting a fifth of the pizza just because someone forgot to slice it!
Validators You Can Count On
The validator vote kicked off on February 21, and lo and behold, there was no need for a nail-biting third round to break a tie. The community had clearly made up its mind. Developers wanted to see some action and gave users until December 17, 2022, to show that their wallets weren’t just decorative pieces. Sadly, out of 195 inactive addresses, only 24 decided to join the party. That left 171 wallets—holding a whopping 1,081,389,416 TON—stuck in the inactive limbo.
The Road to Decentralization
A trip down memory lane tells us that TON’s token distribution kicked off back in July 2020, when anyone and everyone could mine it. This open approach was intended to promote decentralization while still allowing for the perks of proof-of-stake. The idea was to empower users and let this digital city grow from the ground up—if only those residents would, you know, show up! Developers hope that clearing out inactive wallets would give the community a clearer picture of those actually participating in this open-source project.
Future Speculations and Tokenomics
While this vote was crucial, the community is buzzing with anticipation over impending changes to TON’s tokenomics. A proposal floated around to freeze about 20% of the circulating supply for the next 48 months in a strategic move, followed by a grand unfreezing. It’s like putting your investment in a blockchain-prison—except you’re counting down the days until liberation!
Reflections from the Past
Let’s not forget the rocky road TON has traveled. Telegram’s rocky exit over SEC issues left the project in the hands of community developers. Now, as they navigate these responsibilities, users feel the ripple effects of past decisions. With a renewed focus on activity and participation, the hope is that TON will become stronger, attracting a robust community eager to harness the full potential of this blockchain.
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