Polygon Blockchain, the Indian blockchain platform aiming to revolutionise the scalability and affordability of Ethereum transactions, has made a groundbreaking move by partnering with telecom giant Deutsche Telekom, a global telecommunications giant. The partnership, forged on May 31st, 2023, signifies Deutsche Telekom's commitment to exploring the potential of blockchain technology and its applications.
As part of this collaboration, Deutsche Telekom has joined Polygon as a network validator, with its subsidiary Deutsche Telekom MMS offering staking services to Polygon POS and Supernets. This strategic move allows Deutsche Telekom to fully exploit the potential of blockchain technology while ensuring the security and decentralisation of Polygon.
Source: Watcher Guru
Polygon Blockchain Partnership’s Significance
Deutsche Telekom MMS, known for its validation and staking services on various chains like Ethereum, Flow, and Chainlink, will support the Polygon infrastructure. Joining Polygon as a network validator holds significant importance for Deutsche Telekom as it enables them to explore blockchain technology while emphasising the developer-friendly and resource-efficient nature of the Polygon Proof-of-Stake (PoS) network. Moreover, Deutsche Telekom MMS' staking services to Polygon POS and Supernets will further enhance the network's security and decentralisation.
The Benefits Offered by Deutsche
The benefits offered by Deutsche Telekom are substantial for the Polygon network. Staking services incentivize users to hold and lock up their tokens, reducing token supply and increasing their value. This process also aids in decentralising the network by distributing the power to validate transactions across a larger user base. By doing so, the network becomes more resilient against attacks and network congestion. Additionally, staking services provide users with a passive income stream through token rewards, strengthening the network's security, decentralisation, and overall value proposition.
Impact On the Scalability Of Ethereum Network
The partnership between Deutsche Telekom and Polygon is expected to have a positive impact on the security of the Ethereum network. Deutsche Telekom's support for Polygon staking contributes to the security and decentralisation of the blockchain by securing the network and validating transactions. This collaboration not only demonstrates confidence in Polygon's secure and efficient platform but also opens doors for businesses to embrace blockchain technology through Polygon, empowering consumers along the way.
Source: The Daily Hodl
Deutsche Telekom's Validator on Polygon PoS Sidechain Contribute to the Security of the Network
Deutsche Telekom's validator on Polygon's PoS sidechain plays a crucial role in maintaining the network's security by validating transactions and ensuring consensus. Staking, the process of holding and locking up cryptocurrency to participate in the consensus mechanism, also acts as a security measure. By staking on the Polygon network, Deutsche Telekom aids in securing the network and validating transactions, further contributing to its security and decentralization.
In conclusion, the partnership between Deutsche Telekom and Polygon allows Deutsche Telekom to explore blockchain technology while ensuring the security and decentralization of Polygon. As Polygon continues to solidify its position as a top blockchain service provider, this collaboration is a natural progression for Deutsche Telekom, enabling them to offer staking services and become a network validator. Polygon's partnerships with renowned brands like Coca-Cola, Starbucks, and Reddit further strengthen its position as a leading blockchain platform provider on a global scale.
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