DeFI News by Thebittimes.Com

The “most scalable blockchain ever” experienced a spike in activity, causing its network to experience delayed settlements. Transaction per second (TPS) speed on The Open Network (TON) fell as the blockchain buckled under increased usage triggered by a surge of TON20 transactions starting on Dec. 5. TON20 is an inscription standard inspired by the Bitcoin Ordinals protocols and launched by the Tonano team. According to developers, TON could not handle the load due to suboptimal hardware employed by some main network validators. TPS on TON crashed from 100,000 to under one, per dTON.io data. These validators rented hardware for low load with no provision for load growth. Since the network had been running low load for the previous months, this was not a problem. As soon as the load increased by 50-100 times in 30 minutes, these validators started to slow down the whole network with them. TON Foundation You might also like: TON locks up 25% of token supply to make tokenom...

Source: iStock/Orbon Alija Santander UK, the UK unit of banking giant Banco Santander, has placed restrictions on crypto transactions for its customers, including a £1,000 limit on individual transactions with crypto exchanges and a £3,000 limit on total monthly transactions. In a note to customers on Thursday, the bank said that it will limit the amount customers can send when they identify the receiver as a cryptocurrency exchange. It cited increasing cryptocurrency fraud as the reason for the decision.  "We want to do everything we can to protect our customers and we feel that limiting payments to cryptocurrency exchanges is the best way to make sure your money stays safe," the statement reads.  The limits, which will go into effect starting November 15, will restrict customers to a £1,000 limit per transaction, and a total limit of £3,000 a month. "We’ll be making more changes to limit or prevent payments to cryp...