TON Blockchain Slashes Transaction Fees by 2.5 Times

TON developers plan to integrate popular C++ smart contracts directly into nodes, cutting resource use and associated fees.

The Open Network, TON blockchain developers have announced slashing transaction fees by 2.5 times, making it cheaper to use the network.

🎉 TON network fees have been reduced by 2.5x across the board in response to $TON’s recent growth!

Aiming to enhance the scalability and accessibility of #TON, these updates are a testament to TON’s continuous efforts to innovate, encourage greater activity within the TON… pic.twitter.com/U74pP7hloe
— TON 💎 (@ton_blockchain) April 24, 2024

They said, “We are excited to announce a series of updates aimed at reducing network fees, enhancing the scalability and accessibility of TON Blockchain.”

Toncoin transaction fees now vary based on its dollar value, with initial transactions priced at $0.06 and subsequent ones at $0.04 per Toncoin, while USDT transactions have had discounted rates since April 16.

Additionally, developers plan to integrate popular C++ smart contracts directly into nodes, cutting resource use and associated fees. Despite these upgrades, Toncoin’s price fell by 11% to $5.50 from its recent high of $7.65 on April 11.

This drop continued, losing nearly 10% amid announcements of support for USDT and upcoming features like gas-free transactions, Wallet 5.0 updates, and Teleport cross-chain tech.

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

Also Read: Scammers Target Toncoin Amid Telegram-TON Partnership Hype

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