German telecommunications giant Deutsche Telekom has extended support to the Polygon Blockchain by coming on board as a network validator. As the largest telecommunications provider in Europe, Bonn-based Deutsche Telekom became the latest firm to join Polygon’s 100-strong validator pool.
Polygon Labs informed its community about the latest development through a tweet earlier today:
According to a press release by Deutsche Telekom, the telecommunications firm’s Deutsche Telekom MMS subsidiary would extend its validation nodes to Polygon, providing staking and validation services for its proof of stake (PoS) network as well as Polygon’s Supernets solutions.
As a validator, Deutsche Telekom would help secure Polygon’s PoS sidechain and Supernets app chains, effectively contributing to their security governance and decentralization. Dirk Röder, Head of the Blockchain Solutions Center at Deutsche Telekom, stated that “the collaboration with Polygon is an important step for Deutsche Telekom MMS to fully exploit the potential of blockchain technology and enable applications suitable for mass deployment”.
Polygon’s Chief Operating Officer (COO) Michael Blank stated that the collaboration with Deutsche Telekom would help encourage other traditional businesses to explore and adopt blockchain technology and bring what Web3 has to offer to their customers.
Deutsche Telekom joins Polygon’s existing validators, including Coinbase Cloud, Hashquark, and Stakin, which help secure its network by running a full node, producing blocks, validating and participating in consensus, and committing checkpoints on the Ethereum mainnet. The telecommunications firm previously extended support to crypto projects, including Q, Flow, Celo, Chainlink, and Ethereum.
The latest development had no visible impact on the price of Polygon’s native token MATIC, which was trading at $0.88 at press time. However, data from DeFiLlama showed that Polygon’s total value locked (TVL) went up by 2.34% over the past 24 hours. At the time of writing, the TVL stood at $1.02 billion.
