Deutsche Telekom has announced its entry into the Bitcoin mining sector, marking a significant expansion of its current cryptocurrency activities. The company has been operating a Bitcoin node and Bitcoin Lightning Network nodes since 2023.
In a recent move, Deutsche Telekom partnered with Polygon, becoming one of the 100 validators on its Proof of Stake (PoS) network. This strategic step signifies a considerable enhancement of their ongoing efforts in the cryptocurrency domain. The telecommunications giant has been actively involved in the crypto market for some time.
Since 2023, Deutsche Telekom has been running a Bitcoin node and Bitcoin Lightning nodes, underscoring its strong interest in the decentralized currency sector. During the BTC Prague conference, Dirk Röder, Head of Infrastructure and Web3 Solutions at Deutsche Telekom, disclosed this surprising development.
Deutsche Telekom’s Bitcoin Node Operation
Röder mentioned, “Since 2023, we have been operating Bitcoin, and we also run Bitcoin Lightning. Let me share a little secret: we will soon be participating in digital cash photosynthesis.” When asked by Joseph Hall to clarify the term “digital cash photosynthesis,” he responded, “We will.”
Deutsche Telekom’s Role in PoS Networks
Deutsche Telekom MMS, a subsidiary of Deutsche Telekom, offers PoS network validation and signing services, along with Supernet solutions. These services reinforce Deutsche Telekom’s commitment to blockchain and cryptocurrencies. Röder’s announcement at BTC Prague highlighted the company’s ambitious plans and emphasized the potential impact of Deutsche Telekom’s involvement in Bitcoin on the broader cryptocurrency market.
Deutsche Telekom Becomes a Polygon Validator
The news of Deutsche Telekom entering the Bitcoin space has significant implications for the cryptocurrency market. Reportedly, the company has been building its blockchain capabilities over the past few months. Last year, Deutsche Telekom entered into a notable agreement with Polygon, Ethereum’s layer-2 scaling protocol, making it one of the 100 validators on PoS networks.
Deutsche Telekom’s role as a validator extends beyond Polygon. The company also validates networks like Chainlink and Ethereum. Röder explained that they aim to serve institutional clients as a reliable enterprise-level staking provider. By leveraging its infrastructure as a validator and monetizing native tokens of core blockchain networks, Deutsche Telekom has found a new, scalable source of income.
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Röder stated, “Deutsche Telekom is not only a renowned provider of mobile and internet infrastructure services but also makes significant commitments to expand its presence and reliability as an infrastructure provider in the Web3 space.”
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