POLY
by BSC News
May 31, 2023
By becoming one of the 100 validators, Deutsche Telekom will fully leverage the potential of blockchain technology while contributing to the Polygon network's security and decentralization.
Deutsche Telekom, a leading global telecommunications company, has announced its support for the Polygon blockchain infrastructure. By becoming a validator on Polygon, the prominent Ethereum Layer-2 scaling platform, Deutsche Telekom is expanding its involvement in blockchain technology and demonstrating its backing for the network's ecosystem.
Deutsche Telekom's subsidiary, Deutsche Telekom MMS, has extended its validation nodes to Polygon, enabling staking and validation services for the Proof-of-Stake (PoS) network and Polygon's Supernets solutions. As one of only 100 validators on the Polygon (PoS) network, Deutsche Telekom MMS emphasizes the developer-friendly and resource-efficient nature of the Polygon ecosystem, which adheres to the high security standards of the Ethereum ecosystem.
This collaboration between Deutsche Telekom and Polygon is seen as a significant milestone for Deutsche Telekom MMS to fully leverage the potential of blockchain technology and facilitate mass-deployable applications. Additionally, Deutsche Telekom MMS supports Polygon staking, contributing to the blockchain's security and decentralization.
“We are excited to have Deutsche Telekom, one of the world’s leading telecommunications providers, become a validator on the Polygon network,” said Polygon Labs' Chief Operating Officer, Michael Blank.
Blank believes that the collaboration paves the way for more businesses to embrace blockchain technology and empowers consumers by leveraging the ownership and autonomy offered by web3 technology.
As a validator, Deutsche Telekom MMS will play a crucial role in operating and securing Polygon's PoS sidechain and Supernets app-chains. By running a full node, producing blocks, validating and participating in consensus, and committing checkpoints on the Ethereum mainnet, Deutsche Telekom MMS contributes to the security, governance, and decentralization of Polygon.
Polygon is a “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.
Related News
Latest News
May 2, 2024
Solana's Hot New Memecoin - What is POPCAT?
May 2, 2024
BNP Paribas, Europe's Second-Largest Bank, Acquires Shares in BlackRock's Bitcoin ETF
May 2, 2024
MicroStrategy Launches Bitcoin-Based DID Protocol, MicroStrategy Orange
May 1, 2024
Binance Labs New Investment: What is Movement Labs?
May 1, 2024
Nigeria Moves to Extradite Binance Exec Nadeem Anjarwalla
May 1, 2024
CZ Vows to Remain Passive Crypto Investor Post Prison Time
May 1, 2024
Chainlink Partners With Rapid Addition and Chainlink to Reimagine Institutional Trading with Blockchain Adapter
April 30, 2024
Patrick McHenry Claims Gary Gensler Misled Congress on Ethereum
More News