As a seasoned researcher with a keen interest in blockchain and telecommunications, this latest move by Deutsche Telekom into the NEAR Protocol ecosystem piques my curiosity and excitement. Having closely followed the evolution of both entities, it’s fascinating to see them intersecting in such a significant way.
The pioneering telecom corporation, Deutsche Telekom, now operates as the initial telecommunications company running a validator within the NEAR Protocol network.
German Telecom Corporation, ranked fifth globally in terms of telecommunications revenue, has decided to collaborate with the Enterprise Node Operators program within the NEAR ecosystem. This move aims to bolster the network’s decentralization and security.
According to a press statement released on November 11th, Deutsche Telekom announced that they will assume a significant function in managing the blockchain by acting as a validator. This role is within the institutional focus of the NEAR ecosystem.
Oliver Nyderle, Digital Trust & Web3 Infrastructure Chief at Deutsche Telekom, found the partnership “innovative and promising.” He noted that both parties hold a similar stance on prioritizing “user data autonomy and control” to ultimately serve the users better.
Deutsche Telekom, a prominent player in German telecommunications, has announced it’s teaming up with NEAR, broadening their “staking assets” to encompass a decentralized AI and scalable network. The extent of Deutsche Telekom’s participation as a network validator remains undisclosed.
To become a block-producing validator on the NEAR Protocol, the minimum required stake often references the “seat price” based on the 100th highest proposal among validators. Per the network’s documentation, the threshold changes dynamically based on validator participation, with the absolute minimum threshold set at 67,000 (NEAR) (around $383,000 at current market price). Amid the news, NEAR price gained 9.5%, soaring to $5.6.
The partnership was established only a few days following the initiation of a trial project by Deutsche Telekom’s subsidiary MMS and Bankhaus Metzler, one of Germany’s oldest banks. This project aims to investigate the potential use of excess renewable energy for Bitcoin mining. The collected data could contribute to stabilizing Germany’s power grid.
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2024-11-12 10:00