TON’s House of Cards
I think all my readers are aware that TON had problems last week. The TON-20 standard, with impressive marketing in the Chinese segment, led to a queue on the network, which led to problems with the indexer, which in turn stopped most important applications.
I wondered what kind of token or application could cause such problems - when I went to the zero address for burning, I was surprised. A bunch of transactions with json inside and that’s it.
As it turned out, there is no clear documentation for TON-20, so I had to figure it out using an original idea from the Bitcoin network - BRC-20.
But what surprised me even more was the amount of hate in around-TON tg channels that fell on everyone who creates something TON. Although there are no signs of malicious intent here.
So I decided to write a longread where:
1️⃣we figure out how TON-20 and BRC-20 works
2️⃣we talk about why such dubious technical solutions lead to problems
and all this in the context of the problem of alignment of incentives - a key problem of such ecosystems that blockchain generates.
ENG LINK | RU LINK
I will be grateful for your support - every like and repost helps, since the topic of blockchain is difficult to perceive
I think all my readers are aware that TON had problems last week. The TON-20 standard, with impressive marketing in the Chinese segment, led to a queue on the network, which led to problems with the indexer, which in turn stopped most important applications.
I wondered what kind of token or application could cause such problems - when I went to the zero address for burning, I was surprised. A bunch of transactions with json inside and that’s it.
As it turned out, there is no clear documentation for TON-20, so I had to figure it out using an original idea from the Bitcoin network - BRC-20.
But what surprised me even more was the amount of hate in around-TON tg channels that fell on everyone who creates something TON. Although there are no signs of malicious intent here.
So I decided to write a longread where:
1️⃣we figure out how TON-20 and BRC-20 works
2️⃣we talk about why such dubious technical solutions lead to problems
and all this in the context of the problem of alignment of incentives - a key problem of such ecosystems that blockchain generates.
ENG LINK | RU LINK
I will be grateful for your support - every like and repost helps, since the topic of blockchain is difficult to perceive