Polygon Blockchain to be supported by Deutsche Telekom

Deutsche Telekom has extended its support to Polygon Infrastructure as a part of its attempts to expand blockchain activities. Also, Deutsche Telekom coming out in support of Polygon, clarifies that the integrated telecommunication company is willing to support the ecosystem of Polygon at every possible level.

Being one of the hundred validators of the network, Deutsche Telekom will now provide staking and validation services for Supernets and the Proof of Stake network of Polygon. The move follows Flow, Q, Celo, Ethereum, and Chainlink being a part of the list.

On a larger level, Deutsche Telekom will act as a full node to strengthen the security, decentralization, and governance of the ecosystem. It will also produce blocks, participate in consensus, and validate transactions.

Dirk Roder from Deutsche Telekom has appreciated Polygon Network for being resource-efficient and developer-friendly, adding that the ecosystem is based on security standards that are pretty high in the industry. The Head of the Blockchain Solutions Center has called their collaboration with Polygon an important step, highlighting that they now look forward to exploiting the potential of blockchain technology and enabling applications that have the capability for mass deployment.

However, having said that it remains to be seen how high Polygon will go following the announcement. The price is currently trading around $0.8906. That is an increase of 0.19% in the last 24 hours. Per estimates, there is a chance that Polygon will cross the mark of $2 by the end of 2023. Alternatively, it could stick to the value of $0.85 by the end of the year.

Michael Blank from Polygon Labs is optimistic about the collaboration, stating that it will surely make way for businesses to embrace blockchain technology. The Chief Operating Officer has expressed excitement about the collaboration while also welcoming the onboard as a validator. Another critical progress that the partnership is likely to make is empowering customers to explore the nature of ownership and autonomy of Web3.

Securing, or rather advancing, Polygon’s blockchain network can be looked at as something very crucial, considering its PoS-based network houses over a thousand decentralized applications, also known as dApps. The network processes over 3 million transactions every day with a Total Value Locked of $1.2 billion.

Supernets are equally important, for they enable developers to create high-performing dApps that can be customized for every customer as per their requirements. Projects leveraging Supernets gain access to the freedom of setting their own gas currency, throughput, gas limit requirements, and other similar tools.

Ethereum Mainnet is the backbone, with its support coming in the form of making transactions economical and safe. Deutsche Telekom announced its support for Polygon’s Blockchain infrastructure comes a day after Polygon Labs introduced a mechanism to seamlessly checkout after the purchase of an NFT. No matter the token or chain, users can proceed with the NFT checkout with a single click, courtesy of The Box, which handles token swapping, bridging, and purchasing – primary or secondary.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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