TON validators to determine suspension of inactive miner wallets

Ton Blockchain (TON) validators will vote on suspending inactive miner wallets starting Feb.21, 2023, according to a company press release.

There are currently 195 inactive addresses in the TON network, according to the press release. Each has a balance of at least one TON, adding up to a total of 1.08 billion TON — accounting for 21.3% of the total supply.

If the voters agree to deactivate these accounts, these tokens will be suspended for a period of at least four years, preventing the account holders from issuing any transactions.

Inactive addresses

The Toncoin distribution period started in July 2020 and ended in June 2022. Within this period, 98.55% of the total TON supply was available for mining.

The TON Foundation describes inactive wallets as wallets that took part in Toncoin mining, but made no outgoing transactions after June 2022.

Posted In: Mining, Tokens
Bookmark (0)

Related Posts

Liquid staking tokens rally by 15% as Ethereum Shapella upgrade draws near

Liquid staking tokens rally by 15% as Ethereum Shapella upgrade draws near

Liquid staking platform tokens have seen their values increase following news that staked Ethereum withdrawals would be enabled on April 12.

Bookmark (0)
CipherTrace report reveals almost 50% of crypto total market cap was lost in 2022

CipherTrace report reveals almost 50% of crypto total market cap was lost in 2022

Despite the loss, the total crypto market cap increased over 20% from the third-quarter in to the fourth-quarter in 2022.

Bookmark (0)
BNB smart chain (BSC) receives user proposal for lower transaction fees

BNB smart chain (BSC) receives user proposal for lower transaction fees

According to the proposal, BSC’s high gas fees have led to a decline in network activity — pushing its utilization to around 15-20%.

Bookmark (0)
Gate.io suspends withdrawals of SafeMoon following public burn bug exploit

Gate.io suspends withdrawals of SafeMoon following public burn bug exploit

The attack was carried out by hackers that attacked the BNB-based chain DEX, draining $8.9 million in funds before being found.

Bookmark (0)
CryptoSlate wMarket update: XRP leads top 10 as BTC breaks $28,000 once again

CryptoSlate wMarket update: XRP leads top 10 as BTC breaks $28,000 once again

The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays.

Bookmark (0)
XRP rises 10% against Bitcoin as USD value rises to five-month high

XRP rises 10% against Bitcoin as USD value rises to five-month high

Blockchain analytical firm Santiment reported that XRP’s social dominance is at its highest point in a year following its surge to $0.49.

Bookmark (0)

Leave a Reply

Your email address will not be published. Required fields are marked *