Blockchain
Deutsche Telekom, the technology giant, has joined the Polygon blockchain as a validation node, signaling its ambitions to become an infrastructure provider in the web3 space.
Dirk Röder, the head of the Blockchain Solutions Center at Deutsche Telekom, was quoted by DL News who said that “supporting the Polygon network as a validator is a major milestone in this objective”.
Polygon no layer 2?
Deutsche Telekom has decided to support the Ethereum ecosystem and its scalability solutions, and Polygon, known as the leading Ethereum Layer-2 scaling platform, aligns with that focus.
While Polygon was initially marketed as an Ethereum Layer 2 scaling solution, it has since discontinued that terminology due to misrepresentation concerns. Polygon is a sidechain independent of Ethereum for its security, although it entrusts its transaction history to Ethereum.
The company’s assets are secured by a multi-signature wallet controlled by a small group of individuals or entities. Deutsche Telekom also runs validators for other major and minor blockchains, including Ethereum, Q, Celo, Flow, and Energy Web.
Trad telecom company is branching out into cool new technology
The company’s strategy for running validators remains unclear, with Röder emphasizing that blockchain technology is a valid business case and that Deutsche Telekom will receive percentages of the rewards.
However, another representative clarified that the company does not stake its own crypto assets, but relies on others to do so while taking a portion of their rewards.
While some might speculate that Deutsche Telekom’s involvement in blockchains could be a marketing strategy to appeal to a younger user base, Deutsche Telekom’s quest for node validation in general shows its commitment to the web3 infrastructure and its interest in the scalability solutions of the Ethereum ecosystem.
Disclaimer: This article is for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial or other advice.