Transaction Fees on TON Network Reduced by 2.5 Times

Developers of The Open Network (TON) blockchain announced a 2.5-fold reduction in transaction fees within the network, a decision approved by validators.

The transaction costs will vary depending on the native token’s value in US dollars. At a price of $7 per TON, the fee for the first transaction with Jettons will be approximately $0.06, and ~$0.04 for subsequent ones.

Additionally, since April 16, a special discount applies to USDT transactions based on TON: 0.02 TON instead of 0.032 TON for the first transaction and 0.0145 TON for subsequent ones.

In the next node update, developers will introduce the capability for pre-compiling smart contracts.

“The most popular smart contracts written in C++ will be embedded directly into the node, bypassing the need for execution by the TVM. This will reduce resource consumption and associated contract fees,” the statement reads.

At the time of writing, Toncoin is trading at $5.58, according to CoinGecko.

Back in April, plans to reduce fees on the TON blockchain were revealed.

According to the project’s previously published roadmap for 2024, the introduction of gasless transactions, the Wallet 5.0 update, and the development of a new cross-chain technology called Teleport are expected.