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German telecommunications giant Deutsche Telekom announced Support for the Ethereum network reveals plans to run validator nodes on the world’s largest Proof of Stake (PoS) blockchain.
The company’s move is part of a broader aim to expand its activities across blockchain technology and the crypto ecosystem, according to an announcement from the telecoms giant on Thursday.
According to Deutsche Telekom, its verification infrastructure will be handled by its subsidiary T-Systems Multimedia Solutions (T-Systems MMS). Therefore, T-Systems MMS participates in the network’s staking mechanism to operate validator nodes on Ethereum.
Deutsche Telekom also announced that its subsidiary will partner with liquidity staking pool provider Stake Wise. This marks the entry of telecom companies into liquid staking.
The StakeWise app allows ETH holders to participate in network validation without having to operate the validator nodes themselves. This lowers the barriers to entry for those looking to invest in cryptocurrencies.
“After working with Flow, Celo and Polkadot, we are taking the next decisive step in the blockchain world, doing pioneering work here on Ethereum.As a node operator, entry into liquid staking and close cooperation with DAO is a novelty for Deutsche TelekomDirk Rder, Head of Blockchain Solutions Center at T-Systems MMS, said:
The German telecoms giant’s move comes a few weeks after Ethereum successfully transitioned away from the proof-of-work mechanism used by the Bitcoin network.
As the Ethereum software upgrade that pioneered the PoS mechanism was called, the merge is set to reduce Ethereum’s energy consumption by 99.95%, making the blockchain a greener network.
