Deutsche Telekom Expands Web 3.0 Services to XDC Network

by

As a seasoned crypto investor with a background in telecommunications and technology, I’m always keeping an eye out for significant developments in the blockchain space, especially when it comes from established players like Deutsche Telekom. The latest news about Deutsche Telekom MMS expanding its Web 3.0 services to the XDC Network is particularly exciting for me, given XDC’s focus on tokenized real-world assets and decentralized physical infrastructure.

As a crypto investor, I’m excited to hear that Deutsche Telekom MMS, a subsidiary of the renowned German telecommunications company, is expanding its Web 3.0 services to the XDC Network. Notably, XDC is an intriguing blockchain platform that specializes in tokenizing Real-world Assets (RWA), trade finance, and Decentralized Physical Infrastructure (DePin). This collaboration could bring significant opportunities for both parties involved.

Deutsche Telekom MMS to Operate Standby Masternode 

The XDC Network, which is compatible with Ethereum Virtual Machine (EVM) and functions as a Layer-1 solution, promises swift transaction speeds at virtually zero gas fees. This network supports both USD and EUR stablecoins, in addition to tokenized representations of real-world assets such as gold and US Treasuries. Among these assets is the EURS stablecoin that STASIS introduced on the XDC Network two years ago.

At present, Deutsche Telekom operates validator nodes on various Proof-of-Stake (PoS) blockchain platforms such as Ethereum (ETH), Polygon (MATIC), and Polkadot (DOT). Additionally, it provides a staking service to its clients. Through this service, customers can deposit tokens to generate returns while contributing to the upkeep of these networks.

When Deutsche Telekom MMS becomes part of XDC Network as an infrastructure provider, they will manage a bypass master node instead. Unlike other nodes, this one won’t verify transactions on the blockchain automatically.

If the number of functioning validator master nodes in a network falls below the necessary 108, then its services become essential. Dirk Röder, the head of Deutsche Telekom MMS’s Web 3.0 unit, emphasized that their firm’s enterprise-grade infrastructure is utilized in the XDC Network alliance to ensure secure blockchain applications. Moreover, the finance sector is a primary focus for this collaboration.

As someone with a deep understanding and keen interest in the dynamic world of technology and finance, I can’t help but be intrigued by Deutsche Telekom’s recent announcement signaling their increased involvement with blockchain technology. This development is particularly noteworthy given that it follows comments made by Deutsche Telekom executive, Röder, at the Bitcoin Prague conference last month.

Röder added that the company already runs nodes on Bitcoin and Lightning networks.

Deutsche Telekom Secures Other Strategic Projects 

I became a part of the SQD Network community in early July, when Deutsche Telekom announced their partnership with us. They brought valuable contributions in the form of worker nodes, decentralized storage, and computing resources.

In the partnership, Deutsche Telekom MMS is tasked with improving SQD’s decentralization by offering robust and expansive infrastructure. Röder stated that Deutsche Telekom MMS will “bolster the network’s security and scalability, forming the base for Subsquid to build a formidable data lake.”

“After data is inputted into the SQD network, it gets copied over to multiple nodes within the network. Consequently, if a node drops offline, the data continues to be accessible for consumers due to its existence on other nodes.” – Dmitry Zhelezov, co-founder of SQD network.

Deutsche Telekom has likewise expressed enthusiasm for Artificial Intelligence (AI), leading it to establish a strategic partnership with the Fetch.ai Foundation earlier this year. Consequently, Deutsche Telekom became an initial corporate backer of the Fetch.ai Foundation.

Read More

2024-07-25 12:06