TON blockchain developers have recently announced a significant 2.5-fold reduction in transaction fees within the network. This move is aimed at making transactions more cost-effective for users. Let’s delve into the details:

Transaction Fee Reduction

The project team has revealed that transaction costs will now vary based on the value of the native token in dollars. For instance, at a price of 1 Toncoin (TON), the commission for the first transaction with Jettons will be approximately $0.06, and for subsequent transactions, it will be $0.04.

Starting from April 16, transactions involving USDT will receive a special discount of 0.02 TON instead of the previous 0.032 TON for the first transaction and 0.0145 TON for subsequent transactions.

Upcoming Developments

In the next node update, developers are planning to introduce the ability to pre-compile smart contracts. This means that popular smart contracts, written in C++, will be embedded directly in the node, bypassing the need for TVM execution. This adjustment is expected to reduce resource consumption and, consequently, the associated fees for these contracts.

Price Impact

Following this announcement, the price of TON experienced a 2.4% decrease, settling at $5.55. Toncoin has seen a decline in price since reaching its all-time high of $7.65 on April 11.

Despite recent announcements by Telegram founder Pavel Durov at the Token2049 conference in Dubai, the coin has lost nearly 10% of its value over the past week. Additionally, reports have surfaced regarding support for the USDT stablecoin on the TON blockchain.

Future Plans

Looking ahead, TON is expected to introduce gas-free transactions, update the Wallet 5.0, and develop new Teleport cross-chain technology. Stay tuned for more updates on these developments.

Exciting times lie ahead for the TON blockchain as it continues to innovate and enhance its network capabilities. Keep an eye on the latest news and updates to stay informed about this dynamic field.

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