In a groundbreaking partnership, Deutsche Telekom’s subsidiary, Deutsche Telekom MMS, has entered the world of Web3 by becoming a validator on the MultiversX network. This alliance represents a significant step forward in blockchain technology and Web3 infrastructure, as the telecommunications giant takes on a critical role in securing, validating transactions and enhancing the capabilities of the MultiversX network.
Dirk Röder, Head of the Web3 Infrastructure & Solutions Team at Deutsche Telekom MMS, expressed his enthusiasm for this venture, saying: “The Metaverse needs secure infrastructures because digital experiences and the gaming world require stable networks for the masses. I am happy to take the next step in Web3 together with MultiversX and shape this new era.”
Deutsche Telekom @mms_Blockchain joins the #MultiversX ecosystem by operating a staking pool.
Important milestone, allowing their customers to contribute to the security of the network in a non-technical way.
Powerful leap into mainstream adoption. pic.twitter.com/sV0NzZwNv1
— MultiversX (@MultiversX) October 20, 2023
Powering the Web3 Revolution
The collaboration aims to enable fast, secure and cost-effective Web3 applications and is expected to have far-reaching impacts on the growing Web3 ecosystem. MultiversX, known for its scalable, efficient and secure blockchain architecture, is positioned to revolutionize in-demand applications including enterprise, DeFi (Decentralized Finance), Web3 and Metaverse experiences.
MultiversX’s network boasts nearly 350 million transactions and more than two million user accounts, supporting its role in driving Metaverse adoption. As part of its product offering, MultiversX has introduced the high-performing xPortal app, designed to enable businesses to create and integrate digital financial solutions and seamlessly send and receive cryptocurrencies and NFTs. One of the standout features of the MultiversX Network is the use of AI avatars and a chat feature to improve customer-to-customer interactions.
These features are a testament to the network’s commitment to user-friendly experiences within the Web3 ecosystem. One of the most important innovations that MultiversX brings to the table is the concept of ‘Adaptive State Sharding’. This technology divides the blockchain into segments, or “shards,” each containing only specific parts of the data. The result is linear scalability, where the network can process more transactions, workloads are distributed efficiently, and network overloads are minimized.
As a validator on the MultiversX network, Deutsche Telekom MMS plays a crucial role in maintaining the security and reliability of the network. By leveraging Deutsche Telekom’s multi-cloud strategy, high-quality infrastructure, 24/7 expert maintenance and extensive experience in managing networks, the subsidiary ensures the integrity of the Web3 applications running on the MultiversX blockchain.
Beniamin Mincu, CEO of MultiversX, also called this partnership an important milestone, saying: “A strong sign of blockchain’s progress is when industry veterans pay attention to it and actively participate in it. Today, we are further expanding the potential of Web3 by creating new avenues and exploring new experiences with Deutsche Telekom MMS.”
Deutsche Telekom, one of the world’s leading integrated telecommunications companies, has a customer base of 245 million mobile customers, 25 million fixed network lines and 21 million broadband lines. The company offers a wide range of products and services, including fixed network/broadband, mobile communications, Internet and IPTV services for consumers, as well as information and communications technology (ICT) solutions for business and enterprise customers.
MultiversX, on the other hand, stands out as a highly scalable, secure and decentralized blockchain network with a mission to enable radically new applications for users, businesses, society and the emerging Metaverse frontier. The partnership between Deutsche Telekom and MultiversX holds the promise of accelerating the adoption of Web3 technologies and strengthening the security and efficiency of the digital experiences shaping the future of the Internet.