A lot of problems. With the CEO of Telegram Pavel Durov to appear before French court On Wednesday, blockchain analysts are weighing the potential impact on the closely affiliated and officially named TON blockchain. The open networkAlex Thorn, head of research at Galaxy Digital, reminded investors in a report that the value of the TON Blockchain and its native token, toncoin (TON), are “substantially dependent” about the integration of the project with Telegram. The TON price plummeted after news broke that Durov was arrested on Saturday, detained as part of an investigation into crimes allegedly planned or transmitted on Telegram. The TON blockchain has more than 350 validators worldwide, but it’s unclear how many of these Telegram operates, if any, according to Galaxy’s report. (A source told The Protocol that Telegram does not operate any of them, though our attempts to reach the TON Foundation that supports it for comment were unsuccessful.) It’s unclear “how resilient TON can be in the event that France or any other major government tries to attack or take it down as part of Durov’s arrest,” Thorn wrote. The TON Society, which describes itself as a TON-affiliated community organization, circulated a open letter condemning Durov’s arrest and calling on France to release him. In a very crypto-like interlude to the saga, the TON blockchain suffered a service interruption of almost six hours on Wednesday, caused by a surge in network traffic, and possibly linked to the recent airdrop of a TON-based memecoin called DOGS. Post on XThe TON blockchain team explained that “Several validators are unable to clean up the database of old transactions, resulting in the loss of consensus,” assuring that “no crypto assets will be lost due to the issue.”
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