In a groundbreaking partnership, Deutsche Telekom’s subsidiary, Deutsche Telekom MMS, has entered the world of Web3 by becoming a validator on the MultiversX Network. This alliance signifies a significant step forward in the realm of blockchain technology and the Web3 infrastructure, as the telecommunications giant takes on a crucial role in securing, validating transactions, and enhancing the capabilities of the MultiversX Network.
Dirk Röder, who heads the Web3 Infrastructure & Solutions Team at Deutsche Telekom MMS, expressed his enthusiasm for this venture, saying, “The Metaverse needs secure infrastructures because digital experiences and the gaming world for the masses require stable networks. I am happy to take the next step in Web3 together with MultiversX and to shape this new era.”
Deutsche Telekom @mms_Blockchain is joining the #MultiversX ecosystem by operating a staking pool.
Important milestone, which enables their customers to contribute to the network’s security in a non-technical way.
Powerful leap towards mainstream adoption. pic.twitter.com/sV0NzZwNv1
— MultiversX (@MultiversX) October 20, 2023
Powering the Web3 Revolution
The collaboration aims to enable fast, secure, and cost-effective Web3 applications and is expected to have far-reaching implications for the growing Web3 ecosystem. MultiversX, renowned for its scalable, efficient, and secure blockchain architecture, is positioned to revolutionize high-demand applications, including enterprise, DeFi (Decentralized Finance), Web3, and Metaverse experiences.
MultiversX’s network boasts nearly 350 million transactions and over two million user accounts, underpinning its role in propelling the Metaverse’s adoption. As part of its product offering, MultiversX has introduced the high-performing xPortal App, designed to empower companies to create and integrate digital financial solutions and seamlessly send and receive cryptocurrencies and NFTs. One of the notable features of the MultiversX Network is the utilization of AI avatars and a chat feature to enhance customer and client interactions.
These features are a testament to the network’s commitment to user-friendly experiences within the Web3 ecosystem. One of the key innovations MultiversX brings to the table is the concept of “Adaptive State Sharding.” This technology divides the blockchain into segments, or “shards,” each of which holds only specific portions of data. The result is linear scalability, where the network can process more transactions, workloads are distributed efficiently, and network overloads are minimized.
Deutsche Telekom MMS, as a validator on the MultiversX Network, plays a critical role in maintaining the network’s security and trustworthiness. Leveraging Deutsche Telekom’s multi-cloud strategy, high-performance infrastructure, 24/7 expert maintenance, and extensive experience in managing networks, the subsidiary ensures the integrity of the Web3 applications running on the MultiversX blockchain.
Beniamin Mincu, CEO of MultiversX, also hailed this collaboration as a significant milestone, stating, “A strong sign of blockchain’s progress is when industry veterans pay attention to and actively participate in it. Today, we are further pushing Web3’s potential by creating new pathways and exploring new experiences with Deutsche Telekom MMS.”
Deutsche Telekom, one of the world’s leading integrated telecommunications companies, boasts a customer base of 245 million mobile customers, 25 million fixed-network lines, and 21 million broadband lines. The company provides a wide range of products and services, including fixed-network/broadband, mobile communications, Internet, and IPTV services for consumers, as well as information and communication technology (ICT) solutions for business and corporate customers.
MultiversX, on the other hand, stands out as a highly scalable, secure, and decentralized blockchain network with a mission to enable radically new applications for users, businesses, society, and the emerging Metaverse frontier. The partnership between Deutsche Telekom and MultiversX holds the promise of accelerating the adoption of Web3 technologies and strengthening the security and efficiency of the digital experiences shaping the future of the internet.