TON Foundation will initiate a vote requiring validators of The Open Network (TON) to decide whether to block the addresses of inactive Toncoin miners.
On February 21, 2023, there’ll be a mass vote by The Open Network’s validators. According to TON Foundation’s press release, they’ll have to decide on the suspension of inactive miner addresses.
Inactive addresses will be considered those that participated in Toncoin mining until December 2022, but didn’t make a single outgoing transaction. A total of 195 such wallets are currently online. As of January 18, 2023, they have ~1.08 billion Toncoins (~$2.46 billion) on their balance sheets, representing more than 21% of the total coin issuance.
The vote will be held in two stages. If over 75% of TON validators vote for blocking, the service of the addresses will be halted for four years and it won’t be possible to transfer funds from them.
TON Foundation’s initiative is intended to ensure transparency in issuing the native token. Representatives of the company claim that blocking inactive addresses will show the real volume of Toncoin circulation and spur community activity.
Recall that in 2022, TON Foundation became a technical partner to the governments of Cameroon, Congo, and the DRC in crypto and blockchain adoption.
