$ETH: T-Mobile’s Parent Deutsche Telekom Says That It ‘Supports Ethereum Blockchain’

On Thursday (September 29), Deutsche Telecom, a a German telecommunications company headquartered in Bonn that is the largest telecommunications provider in Europe by revenue, announced that it “supports Ethereum with infrastructure.”

Deutsche Telecom (DT), which operates several subsidiaries worldwide (including T-Mobile), stated in a press release issued on September 29 that it is “expanding its activities in the field of blockchain technology by including the second largest blockchain in the world” and that “DT’s subsidiary, T-Systems MMS provides the Ethereum Network with infrastructure in the form of validation nodes.”

The press release went on to say:

“Ethereum uses the cryptocurrency Ether (ETH) as a means of payment for transactions. After the so called ‘Merge’, Ethereum recently relies on Proof-of-Stake (PoS) for consensus, which, in addition to laying the foundation for future scalability improvements, significantly reduces the blockchain’s energy requirements. T-Systems MMS maintains sustainable blockchain networks and therefore supports the transition to PoS by operating validation nodes.

“In addition, the Deutsche Telekom subsidiary cooperates with Stake Wise. StakeWise offers liquid staking pools, which allow users to keep their ETH tokens without having to operate validator nodes themselves. As a result, the entry barrier for investments in cryptocurrency is lowered.“

Dirk Röder, Head of Blockchain Solutions Center at T-Systems MMS, had this to say:

“Our cooperation partner StakeWise collects individual Ether tokens from many different owners and merges them into validator nodes. These validator nodes are provided and operated as infrastructure by T-Systems MMS. Staked Ether tokens remain available to the owner in this construct – liquid – and can be used in other Decentralized Finance (DeFi) applications...

“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.“

And Kirill Kutakov, co-founder of StakeWise, added:

“With the move to Proof-of-Stake, we expect strong demand and significantly increasing capital flows in the Ethereum network. We are therefore pleased that T-Systems MMS, as an infrastructure provider, is giving our protocol more reliability and making the Ethereum ecosystem safer overall.“

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Featured Image via Pixabay