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Deutsche Telekom has declared its support for the Ethereum network, announcing intentions to run a validator node on the world’s largest proof-of-stake (PoS) blockchain.
According to an announcement made by the telecoms behemoth on Thursday, the company’s action is part of its larger goal of growing its activities throughout the blockchain technology and crypto ecosystem.
T-Systems Multimedia Solutions, a subsidiary of Deutsche Telekom, will be in charge of the validation infrastructure (T-Systems MMS). T-Systems MMS will thus run a validator node on Ethereum, participating in the network’s staking system.
Deutsche Telekom also announced a partnership with liquid staking pools provider Stake Wise, marking the telco’s foray into liquid staking.
The decision by the German telecom powerhouse comes only a few weeks after Ethereum successfully migrated away from the Bitcoin network’s proof-of-work method.
The Merge, as the Ethereum software version that introduced the PoS mechanism was dubbed, is expected to reduce Ethereum’s energy consumption by 99.95%, making the blockchain a more environmentally friendly network.
Dirk Röder, Head of Blockchain Solutions Center at T-Systems MMS, said:
“After collaborating with Flow, Celo and Polkadot, we are now taking the next decisive step in the blockchain world and are doing pioneering work here with Ethereum. As a node operator, our entry into liquid staking and the close collaboration with a DAO is a novelty for Deutsche Telekom.”