Polkadot is a platform that allows diverse blockchains to transfer messages, including value, in a trust-free fashion; sharing their unique features while pooling their security. In brief, Polkadot is a scalable heterogeneous multi-chain technology.
A subsidiary of Deutsche Telekom is a validator of Polkadot and has invested heavily in the native token, DOT. Going forward, they plan to build dApps on that platform.
German Telekom Europe’s largest telecommunications company, is investing in and supporting Polkadot the blockchain platform created by the co-founder of Ethereum a decentralized open-source blockchain with smart contracts functionality. , Gavin Wood.
The subsidiary of German Telekom , T-Systems MMS has become an official validator of the Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Polkadot and has also acquired a quantity ” significant “of DOT tokens, the native cryptocurrency of Polkadot . The company announced the news on Tuesday through a press release .
Polkadot is a blockchain that aims at achieving interoperability between blockchains . It is currently the eleventh largest platform a place to buy, sell and store cryptocurrency by market an area or arena, online or offline, in which commercial dealings are conducted. capitalization.
Polkadot Validator a participant on a proof-of-stake (PoS) blockchain, involved in validating blocks for rewards.
As a validator, the German telecommunications subsidiary will now be in charge of securing the Relay Chain (the central chain of the network Polkadot ) betting their tokens DOTs, or by disposing them as collateral. It will also validate classifier tests and participate in consensus consensus is achieved when all participants of the network agree on the order and content of the blocks in the blockchain. with other validators while playing a crucial role in adding new blocks to the network.
As such, T-Systems will run several validators, both private and public, for the network. Polkadot and will use its own infrastructure to operate the nodes.
According to the statement, T-Systems MMS will use your system Open Telecom Cloud cloud servers are typically located throughout different data centers all over the world. “ para provide and operate the infrastructure in a secure manner. The company assured that this system c It complies with the strict safety and compliance requirements of the European legal framework. In addition, he assured that its independence supports decentralization the handover of control from a central authority to several different custodians. and, therefore, the reliability of the network.
“ By participating in the Polkadot network a network refers to all nodes in the operation of a blockchain at any given moment in time. as a validator, T-Systems MMS supports the secure and reliable exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. of messages between independent blockchains. “, the company said in the statement. For its part, the director of the Blockchain Solutions Center at T-Systems MMS , Andreas Dittrich, destacó al respecto:
As Deutsche Telekom, we have always supported collaboration between people and companies, now also with decentralized technologies. Polkadot is a heterogeneous multi-chain network that allows several blockchains with different properties to perform any inter-chain communication under common security. We believe in this future vision of a networked world.
A business model
This is not new territory for the telecom subsidiary, which has already been supporting other decentralized platforms. According to CoinDesk , Polkadot will be the fourth blockchain it works with. German Telekom .
Talking to the media BTC-ECHO , Dittrich stressed that becoming validators is both “a social mandate and a business model” for the company.
As Deutsche Telekom, we have a social mandate. We are fulfilling this mandate and providing infrastructure for these new decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. global networks. In proof-of-stake poS is a type of consensus algorithm that rewards validators according to the amount of crypto they have staked. [PoS] networks, this means, for example, providing a validator and other nodes. But that also means actively participating in governance. We were careful at first. We started at Chainlink as a data provider, at Flow we were an execution node the most basic unit of blockchain infrastructure that stores data. and at Celo we went one step further. With Polkadot we go further in this direction: validation is not enough.
The Bonn-based company has already ventured into the blockchain space by providing infrastructure support for PoS platforms such as the oracle service Chainlink ; Flow of the pioneers of NFT, Dapper Labs ; y Celo a mobile payment network .
However, with Polkadot the innovation department of German Telekom goes one step further: T-Systems will not only provide node execution infrastructure to users who make staking participation in a proof-of-stake (PoS) system to put your tokens in to serve as a validator to the blockchain and receive rewards. (share) for assets in Polkadot but the company has also invested for the first time in a cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. by purchasing DOT . This movement has involved the integration of a cryptocurrency trading function in the accounting system of the telecommunications company.
In an interview with CoinDesk , Dittrich added that investing in DOT tokens allows the company to participate in the governance in the world of cryptocurrencies, governance is defined as the people or organizations that have decision-making powers regarding the project. of the network while putting their money ” where our mouth is to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. our case for infrastructure “.
The main difference now is that this is no longer a venture capital capital is most commonly defined as the large sum of money you would use to invest. or innovation budget; we do it from our business unit. So this has really become a business case for us. I have to say I’m very proud that we’re doing this.
DApps among future plans
The news about the giant telecommunications company’s support for the ecosystem Polkadot occurs just when la first round of auctions of parachains de Polkadot is coming to a close refers to the closing price; similar to the same term used in stock trading. and the network is opening its doors to the top five decentralized app (dApps) creators this week.
The timing is opportune, as T-Systems is considering throwing its hat into the ring to build its own applications in Substrate substrate is a web app development framework developed by Parity Technologies. the blockchain programming framework from Polkadot . The company plans this development by 2022, Dittrich said.
“We also want to drive app development in the Polkadot ecosystem because interoperability blockchain interoperability, or cross-chain interoperability, is the ability to see and share information across multiple blockchains. between dApps is incredibly important.” said the director to BTC-ECHO. On the other hand, he also pointed to CoinDesk your confidence in the different business use cases offered by the platform.
“ I think the opportunities Polkadot offers for enterprise use cases are really interesting. “, dijo Dittrich. “ Gives you the flexibility and security the term securities refers to a fungible and tradable financial instrument that carries a type of monetary value. of a public, permissionless often used to describe blockchains, a system is said to be permissionless when there is no entity that can regulate who can use it and how it can be used. blockchain and I know that the big industry consortiums are definitely looking at that ecosystem. “.
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Article by Hannah Estefania Perez / DiarioBitcoin
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