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The Open Network Validator is considering suspending 191 addresses that are out of service. The total toncoin (TON) shares held by this address are a little over 1 billion. That’s equal to 21.3% of the current toncoin supply, worth nearly $2.5 billion.
The vote is scheduled for February 21. This procedure is a response to a suggestion made by the TON Foundation last December for miners to demonstrate their liveliness by making transactions on the TON blockchain.
Wallets up for voting for suspension are wallets that have remained inactive since this request. Making any transactions before voting stops will prevent possible suspension for other inactive wallets. It’s important to remember that addresses that weren’t included in the first distribution won’t be affected.
For a final decision to be approved, at least 75% of the validators must participate in multiple rounds of voting. If accepted, the recommended hold would run for four years, during which time no transactions would be authorized at the affected addresses. The blockchain network will publish a “suspended list” for everyone.
At the time of writing, there are 191 idle mining addresses with a total balance of more than 1 Toncoin, which have never processed outgoing transactions. These addresses have a combined balance of nearly 1.08 billion TONs, or 21.3% of all coins. These inactive addresses are all accessible to all members of the public.
The act is meant to be “a showcase of the value of openness to the TON community,” according to a statement from the non-profit TON Foundation, the collective of supporters and contributors behind the blockchain.
In addition, some validators and users are optimistic that freezing these wallets will increase transparency regarding the number of TONs in circulation. This activity is also expected to increase dynamic community involvement in the transparent project.
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