TON Blockchain Announces Substantial Cuts to Transaction Fees

The development team behind the TON blockchain has officially declared a notable reduction in transaction fees by 2.5 times across its network. This strategic move aims to enhance the blockchain’s efficiency and user affordability.

Detailed in the announcement, transaction fees within the TON network will now be dynamically adjusted based on the dollar value of its native token, Toncoin. Initially, the cost for the first transaction using Jettons is set at approximately $0.06, with subsequent transactions costing around $0.04.

Furthermore, a specific reduction has been applied to transactions involving the USDT stablecoin, commencing April 16. The revised fee structure offers a reduced rate of 0.02 TON for the first transaction, down from 0.032 TON, and 0.0145 TON for subsequent transactions, promoting more frequent use of this stablecoin within the TON ecosystem.

In an upcoming update, the TON team plans to enhance the blockchain’s functionality by enabling pre-compiled smart contracts. This advancement will integrate the most utilized C++ smart contracts directly into the blockchain nodes, omitting the need for execution via the TON Virtual Machine (TVM). This development is anticipated to significantly decrease resource consumption and associated fees.

Despite these technical advancements and ongoing support from notable figures such as Telegram founder Pavel Durov, Toncoin has experienced a downward price adjustment. As of the latest reports, Toncoin’s price has decreased by 2.4%, reaching $5.55, following a peak of $7.65 on April 11. Over the past week, the cryptocurrency has witnessed a nearly 10% drop in value.

Looking ahead, the TON blockchain is set to introduce several innovative features in the current year, including gas-free transactions, a major update to Wallet 5.0, and the development of new Teleport cross-chain technology, aiming to further solidify its market presence and user engagement.

source