Deutsche Telekom MMS and MultiversX Forge Web3 Partnership October 20, 2023 October 20, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsOctober 20, 2023 by Kelly Cromley

Deutsche Telekom MMS and MultiversX Forge Web3 Partnership

In a groundbreaking collaboration, Deutsche Telekom’s subsidiary, Deutsche Telekom MMS, has ventured into the Web3 domain by assuming the role of a validator on the MultiversX Network. This strategic alliance signifies a momentous leap in the realm of blockchain technology and the Web3 infrastructure. The telecommunications behemoth has embraced a pivotal role in securing and validating transactions, thus enhancing the capabilities of the MultiversX Network.

Dirk Röder, the head of the Web3 Infrastructure & Solutions Team at Deutsche Telekom MMS, expressed his eagerness for this venture. He articulated the importance of secure infrastructures within the Metaverse, emphasizing that stable networks are paramount for delivering digital experiences and gaming to the masses. He enthusiastically acknowledged the collaboration with MultiversX as the next step in their Web3 journey, shaping a new era in the digital landscape.

A Telecom Giant’s Entry into the Web3 Universe

The core objective of this partnership is to facilitate the development of fast, secure, and cost-effective Web3 applications, with the potential to exert far-reaching influence within the burgeoning Web3 ecosystem. MultiversX, renowned for its scalable, efficient, and secure blockchain architecture, is poised to disrupt high-demand applications spanning enterprises, DeFi (Decentralized Finance), Web3, and immersive Metaverse experiences.

MultiversX’s network is a testament to its capacity to drive Metaverse adoption, with a staggering record of nearly 350 million transactions and over two million user accounts. As part of its product portfolio, MultiversX has introduced the xPortal App, a high-performing tool empowering companies to create and seamlessly integrate digital financial solutions while facilitating the transmission and reception of cryptocurrencies and NFTs. Among its distinctive features are AI avatars and a chat function, aimed at enriching customer and client interactions, underscoring MultiversX’s commitment to user-friendly experiences within the Web3 realm.

One of the notable innovations that MultiversX brings to the forefront is the concept of “Adaptive State Sharding.” This groundbreaking technology segments the blockchain into discrete units, or “shards,” with each shard containing specific data segments. The result is linear scalability, enabling the network to process a higher volume of transactions, optimize workload distribution, and mitigate network congestion.

Deutsche Telekom MMS, in its role as a validator on the MultiversX Network, assumes a critical responsibility in upholding the network’s security and reliability. Leveraging the multi-cloud strategy of Deutsche Telekom, robust high-performance infrastructure, round-the-clock expert maintenance, and extensive experience in network management, the subsidiary ensures the integrity of Web3 applications operating on the MultiversX blockchain.

Beniamin Mincu, the CEO of MultiversX, hailed this partnership as a significant milestone, emphasizing that the engagement of industry veterans is indicative of blockchain’s advancing progress. He noted the collective efforts in unlocking the potential of Web3, creating new pathways, and exploring novel experiences alongside Deutsche Telekom MMS.

Deutsche Telekom, a global telecommunications leader, boasts a vast customer base encompassing 245 million mobile customers, 25 million fixed-network lines, and 21 million broadband lines. The company offers a diverse 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 catering to business and corporate clients.

In contrast, MultiversX stands out as a highly scalable, secure, and decentralized blockchain network, driven by a mission to enable groundbreaking applications across diverse sectors. The collaborative union of Deutsche Telekom and MultiversX holds the promise of accelerating the adoption of Web3 technologies, fortifying the security, and enhancing the efficiency of digital experiences that are shaping the future of the internet.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.