Telekom established a partnership with the popular Ethereum Layer-2 scaling network Polygon.
Polygon is a Proof-of-stake (PoS) blockchain network. Polygon blockchain was founded by Jayanti Kanani, Sandeep Narwal, Anurag Arjun, and Mihailo Bjelic. In 2021, the Polygon team shifted its full focus toward Crypto Web3 development. Matic is a native coin of the Polygon network & this coin is 9th-ranked crypto token in this crypto market.
On 31 May 2023, Deutsche Telekom, the German telecommunications giant, announced that it established a partnership with the Polygon Crypto team as a validator.
Telekom will provide staking services for both Polygon’s PoS sidechain and Supernets. So Telekom is going to enhance the efficiency, scalability, & security of the Polygon network.
Through this partnership, Telekom confirmed that it is focused to expand its services in the crypto & blockchain sector.
Dirk Röder, the Head of the Blockchain Solutions Center at Deutsche Telekom, said that the latest partnership is going to bring new opportunities for Telekom, as it will explore the high potential use case of blockchain & further use in the application developments.
On this partnership, Michael Blank, the Chief Operating Officer at Polygon Labs, said that such a partnership will help other businesses to take advantage of Crypto & Web3 technology.
Matic coin price action
The current trade price of Matic is $0.8892 & this trade price is 7.21% down over the last 30 days of trade price.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.