Deutsche Telekom becomes a validator of the Polygon network
The telecommunications company will act as the operator of staking services and will confirm transactions
31.05.2023 - 13:45
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What’s new? A subsidiary of Deutsche Telekom, the third-largest telecommunications company in the world, has become one of a hundred validators of the Polygon (MATIC) network. The firm will provide staking and transaction validation services on the Polygon network with the Proof of Stake (PoS) consensus algorithm, as well as on Supernet, an interoperable blockchain system for developers based on the Polygon Edge platform. Deutsche Telekom MMS has also previously joined the Q, Flow, Celo, Chainlink, and Ethereum blockchains as a validator.
What else is known? The company noted that the collaboration will enable applications for a wider audience, helping to increase the security and decentralization of the network. Dirk Röder, Head of the Blockchain Solutions Center at Deutsche Telekom, said that the Polygon ecosystem is developer-friendly, resource-efficient, and secure, and the collaboration will encourage mass adoption of blockchain and Web 3.0 technologies.
There are tens of thousands of decentralized applications (DApps) on the Polygon PoS network, more than three million transactions occur daily, and the blockchain’s total value locked (TVL) exceeds $1 billion, according to DeFiLlama as of May 31.
Coinbase Cloud becomes validator of the Chainlink oracle network
The initiative is designed to improve the reliability of smart contracts
Last September, Deutsche Telekom partnered with Japanese financial conglomerate SoftBank to support a $300 million Web 3.0. fund.
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