Deutsche Telekom MMS Joins Switzerland-based SQD Network to Provide Worker Nodes

As a researcher with a background in blockchain technology and telecommunications, I’m excited about the recent partnership between Deutsche Telekom MMS and the SQD network. This collaboration has the potential to significantly impact both companies and the wider web3 ecosystem.

As a crypto investor, I’m excited to share that Deutsche Telekom AG, a renowned German telecommunications company with the ticker symbol FWB: DTE on the Frankfurt Stock Exchange, has recently joined forces with SQD (formerly known as Subsquid). This collaboration will see Deutsche Telekom providing vital resources such as worker nodes, decentralized storage, and computing power to SQD’s network.

In the web3 environment, the SQD network offers decentralized apps (Dapps) access to dependable data like transaction histories from the blockchain. Consequently, $SQD token holders can entrust these tokens to trusted node operators, enhancing the network’s security.

As a researcher exploring the latest advancements in Web3 technology, I’m excited to share my insights on the groundbreaking SQD network. This innovative architecture represents a significant leap forward, unlocking the true potential of blockchain data and making it easily accessible and usable for developers and users alike. By offering top-tier infrastructure, we fortify the security and scalability of the network, laying the foundation for Subsquid’s robust data lake at Deutsche Telekom MMS.

Marcel Fohrmann, one of the founders of SQD network, shares that their collaboration with Deutsche Telekom MMS will significantly boost their efforts in advancing web3 technology. Additionally, developers working on web3 projects can now obtain relevant data from the SQD network at an affordable cost to create a smooth and consistent user experience for everyone.

After data is introduced into the SQD network, it gets copied over to numerous nodes within the network. Consequently, should a node unexpectedly fail, the data continues to be accessible to consumers since it’s duplicated across other functional nodes.

Market Impact on the Partnership Between Deutsche Telekom MMS and SQD

Deutsche Telekom MMS and SQD network’s alliance is poised to benefit both entities significantly in the coming months. With the European Union progressively enforcing the Market in Crypto-Assets (MiCA) regulation, there will be an increasing number of institutional investors and individual traders embracing web3 technologies and digital currencies.

After the recent announcement, the price of $SQD token experienced a significant rise of over 10% on Wednesday, reaching approximately $0.12. Consequently, this lesser-known altcoin, valued at around $168 million in total and with an average daily trading volume of roughly $5.2 million, has seen a remarkable increase of over 36% within the past week.

During this period, the DTE stock maintained a modest uptrend, providing additional income streams for its investors.

Deutsche Telekom, as a leading company, has shifted its attention towards the web3 realm and digital assets in order to secure a lasting future. A notable example of this effort is their operation of a Bitcoin node for over a year, as mentioned by Röder recently.

Institutional investors embracing digital assets and Web3 technologies are expected to fuel a major surge in the ongoing cryptocurrency market rally, which started following the fourth Bitcoin halving.

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2024-07-03 17:33